Description
This notorious student flat is in extremely high demand every year. Situated in a prime location, enquiry from prospective tenants will generally start in March of the year prior
The house contains 8 good sized bedrooms, plus the infamous turret room, 2 bathrooms and an open plan kitchen / living area.
Outside, the tenants enjoy a sunny front yard along with 2 car parks.
The 670m2 site allows for up 15 bedrooms (subject to DCC consent)
The house sits on leasehold so ground rent is paid to the landowner.
Ground rent was confirmed at $51,000 per annum ($981 per week) in December 2025 and will next be reviewed in 2032 (every 7 years).
Short term projections are as follows:
2026 (Confirmed):
Weekly rent: $2070
Weekly ground rent: $981
Weekly income after ground rent: $1089
2027 (Confirmed):
Income: $105,570
Ground Rent: $51,000
= $54,570
Over 12% return for 2027.
2028 (Projection):
Income: $117,000
Ground Rent: $51,000
= $66,000
Over 14% return for 2028
While you may not own the land, the yield is basically double what you would expect for an investment in this location and at only $450,000, it's a very intriguing opportunity.
Link to 3D tour below:
https://my.matterport.com/show/?m=wMnRDJB6bak
