Positive fundamentals for property demand in SheffieldMake Text Bigger
There is a great deal of entrepreneurship, in Sheffield, which is leading to job creation and inward migration. A new business bank, which has been backed by the European Commission, will create 100 new jobs. Marks & Spencer, the clothing and food retailer, has taken warehouse space (In Sheffield) totalling 647,000 sq ft will create 300 jobs. Ark Home Healthcare has chosen Sheffield to be the home of its new headquarters in a £10.4m investment will create 100 jobs in the city. All these facts are positive fundamentals for the demand for property in Sheffield.
There is already a surplus demand for housing required by the 55,000 students attending university in Sheffield. The University of Sheffield is a highly regarded Russell Group University… only one of 24 research institutions to achieve this status. The prestigious ranking draws overseas students in increasing numbers towards Sheffield.
Rents in excess of £150 per week are being achieved on studios. Landlords can grasp a hold of a new build development, within the City Centre, that appeal to both students and professionals for £69,995. The studios will be fully managed by a specialist student lettings company. The appeal of this hassle free investment is the 9.2% Net Income, guaranteed for a period of 3 years.
The city centre development benefits from full residential planning and is comprised of studios and two bedroom apartments. Having residential planning is appealing because one is able to obtain a mortgage upon completion and they are generally easier to sell, than purpose built student properties.