Student demand propels Harbourside's appeal
A shortage of quality three-bedroom rental accommodation in Bristol is prompting canny investors – including parents of children studying at university – to take a closer look at the city’s premier property development.
With monthly rent for a three-bed property in the city approaching £2,200 per month, brand new apartments such as those available at Crest Nicholson’s Harbourside will give those looking to invest an annual return of around 4.5 percent.
The city has a large student population of around 47,000 coming from the two popular universities which has placed additional pressure on current stock and resulted in the city seeing a healthy rise in rental yields.
The pressure on quality rental stock is so severe in some instances, students arriving for the Autumn term will find they will have to start looking now in order to secure a decent place to live for the following academic year.
However, shrewd parents thinking ahead about their offspring’s accommodation during their university days can ease that pressure by securing a buy-to-let property of their own.
Providing a place to live for their own son or daughter, not only does it do away with wasting money on rent, those who buy will be able to earn by renting rooms to other students. They will also have a good chance of seeing their property go up in value.
Susan Young, sales and marketing director at Crest Nicholson said: “Bristol is perennially popular as a student destination. Regarded as being one of the best university cities in the UK it naturally attracts a high number of students, including many from overseas and pushes up the total population of the city by about 11 per cent during term time.
“Much of the existing rental property in the popular residential areas such as Cotham, Redland and Clifton have long since been snapped up by existing and first-time landlords with many traditional family homes having changed to houses in multiple-occupation to serve the city’s increasingly large student population.
“For those thinking about investing, students nowadays expect high-quality accommodation with things such as wi-fi and en-suite bathrooms. That’s why Harbourside is an ideal option. It’s close to Bristol University and on a lot of main bus routes.”
With yields being as much as 20 per cent higher in new properties, void periods much shorter and maintenance costs lower, buying a new property at the development makes for a very attractive investment package.
Susan added: “With students having to look for somewhere to live during the academic year, the attractiveness of the three-bedroom properties at Harbourside shouldn’t be overlooked.
“Instead of wasting money on rent, buying a property to will not only generate an income but provide a steady investment through equity growth. In addition, if the son or daughter is studying in Bristol, it provides peace of mind that they have somewhere decent to live.”
Located on Canons Way just off Anchor Road, Invicta is spread over five floors and the marketing suite is open every day from 10am to 5pm.
For further information, visit crestnicholson.com/harbourside/.
