Phillips Sutton have sold a student residential investment with development potential for £1.235 million.
Acting on behalf of York Road Developments, Phillips Sutton have advised on the disposal of a fully let 17 bed student residential investment, in addition to an adjacent office building on York Road, Leicester with planning permission for a 15 bed student scheme.
The 17 bed scheme was fully let for 2014/2015 and produced a gross income of £89,000. The investment which was bought by private clients of Fothergill Wyatt showed a net initial yield of 8.99%.
