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Small Purpose-built Coventry Scheme up for Sale

Posted by Richard Ward in

Image courtesy of Flickr, Creative Commons

A block of purpose-built student accommodation in Coventry is up for a sale with an asking price of £1.7m.

The site was formerly a pub, which opened in 1968 but has since been transformed into student accommodation.

The scheme consists of three floors, with a total of 21 bedrooms. The accommodation also comes equipped with a gym, with the basement suitable for conversion into a cinema room.

Although the site doesn't have any parking, it does have space to store bicycles, along with communal washing machine and dryer systems.

Located opposite the Fords Hospital, students will be within close proximity to Hertford Street shopping and Broadgate.

According to the advert, investors can expect to achieve rental rates of £131-£138 and a gross income for the year of more than £140k.