Belfast Telegraph

Co Antrim apartments a rung on buy-to-let ladder

By Rachel Martin

A student accommodation development in Co Antrim - featuring 12 apartments - has gone on the market for £1.2m.

Averaging around £100,000 an apartment, Abbeyville Court, Whiteabbey, is billed as an investment suitable for the student let market.

The apartments, which take the form of two purpose-built three-storey blocks, are based around one and a half miles from Ulster University's Jordanstown campus. Several are already let for the 2016-17 academic year at a rate of £180 a month for each room.

Rental income for the complex is estimated at around £9,000 a month, with the potential to rise to £9,720 should the buyer find tenants for the unoccupied units.

Estate agent Simon Brien said:"Obviously there will be seasoned developers looking at this one, but this property will also be of interest to those new to buy-to-lets.

"With prices at 50-60% of what they were at the peak and growth of 5-7% per annum, a lot of people are turning to property again as a secure investment. If someone was likely to get around 10% growth, it's a very good investment."

Blocks include kitchens, intercom entry, CCTV and on-site car parking.

Also on the market is a refurbished four-bedroom guesthouse, Portcaman House on Priestland Road in Bushmills.

Estate agent MCG also suggests the business could grow, with room to extend subject to planning approval. Rooms had been fetching around £75 a night.

Belfast Telegraph