Richmond House by Vita
UK student project with assured 7% yield for five years
Vita Student at Richmond House, Southampton as mentioned in the Sunday Times one of our most highly anticipated location to date.
With close to 1,000 luxury student apartments sold across six previous projects, Vita Student now brings its unique investment concept to Southampton – a key location with an identified demand for high-quality student property.
The city's buoyant student property market is structurally undersupplied, over three quarters of Southampton's 39,000 student population are unable to access purpose-built accommodation. This represents one of the country's greatest shortages of student property.
Studio flats at Vita Ventures’ new purpose-built student development in Southampton city centre go on sale on Friday 29 November
Student accommodation specialist Vita Ventures is launching its seventh UK development, which carries guaranteed 7% rental yield for five years.
The £21million Vita Student at Richmond House will be one of the only purpose-built student accommodation developments in Southampton city centre.
Work has started on a £21m project to create 211 student flats in the heart of Southampton.
The Developer has begun work to convert Richmond House into a luxury development containing apartments and communal leisure and study facilities.
The 211 studio apartments, priced from £67,800, will be available for investors to buy from Friday 29 November.
A guaranteed 7% rental yield is offered for the first five years of the development being opened.
The scheme has a four-step payment plan where investors put down £5,000 to secure the unit of their choice, 25% of the total cost on exchange, a further 25% down after six months and the balance on completion. As added protection, all the money is paid into a secure escrow account.
Planning permission has been granted and work has been started on-site by main contractor Carillion with it due to be completed ready for the 2014/15 academic year.
The scheme will be fully-managed by Vita Student, which sources the tenants and deals with any enquiries during their residency.
The Developers CEO says, “Students are increasingly looking for luxury accommodation like ours and this demand means that our developments are very likely to be fully occupied from the start, safeguarding the future of our clients’ investments.”
Luxury developer, Vita which founded Vita Student in 2012, It targets sites in Russell Group university cities, which often attract more overseas students to the UK.
Around two-thirds of its investors usually come from outside the UK, with 20% from Asia.
Southampton was chosen as it has a severe shortage of purpose-built student property in the city centre, due to an expanding student population and a boom in international students.
For detailed information on this investment please contact us by filling out the form below or calling us +44 (0)203 432 5474 We can send you:
Comprehensive Investor Report.
Availability, Price List, Floor Plans.
Details on the Assured Rental.
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