A glance at the university's website reveals there are currently 21,273 students studying there and this looks set to expand with the removal of the cap on the number of students universities can take in. The property investment market remains a sensible choice of asset.
Why Exeter?
The University of Exeter was voted seventh in the UK by The Times and the Sunday Times Good University Guide which also voted it overall sports university of the year for 2016.Additionally it is a member of the Russell Group, which represents 24 leading UK universities committed to maintaining the very best research, an outstanding teaching and learning experience and unrivalled links with business and the public sector, and within this group Exeter is ranked sixth for its research and third by students surveyed. Add to that the historical quayside, cathedral and contemporary Princesshay shopping centre, the surrounding coast and countryside and it's no surprise students are flocking here.
Weekes Estate Agents has sold several large student properties with HMOs in the last few weeks and has another one just listed. The interest has been incredible and the properties have been snapped up. What makes a property prime to let to students? Weekes team member Tony McGee said: 'The key to buying the right student property is location. The ideal location in Exeter is in what we call the golden triangle.' This is an area between the university campus, the city centre and the popular Victoria Inn (which only needs to open in term time) where the highest rents can be found.
These properties rarely come onto the market and when they do they sell extremely quickly. An ideal property would have five plus bedrooms and an HMO in place, which is a license to rent to multiple occupants. However, the golden triangle is not the only hotspot for buying an investment student property. There are many other streets in the area in great locations sought after by students; St John's Road, Monks Road and surrounding streets in Mount Pleasant, Portland Street in Newtown, Mowbray Avenue, Hoopern Street, Danes Road and Longbrooke Street.
Students often look to live near popular pubs such as The Globe in Newtown, the Black Horse in Longbrooke Street, Henry's in Mount Pleasant, The Victoria Inn in Union Road and the Old Fire House in New North Road. When looking for the right investment, it is important to get all the factors right.
There is also the opportunity of converting some commercial or semi-commercial properties into student houses subject to planning. This also beats the stamp duty rise brought in last April as commercial and semi-commercial property is exempt from the three per cent surcharge, meaning those who invest in these property types will have a lower tax bill.
'Weekes Estate Agents, based in St Leonard's, has helped many investors make the right purchase,' said Tony. 'Not only are we extremely familiar with all the popular streets but we also have years of experience and understand the finer details. We also let and manage student properties giving buyers a seamless service.'
