Headingley

Leeds

Detailed conversion of a ‘student let’ into premier Airbnb accommodation

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Nest Hub took a meticulous approach to converting a traditional ‘student let’ property, in Headingley, into a premier Airbnb destination.

The converted property is luxurious and sophisticated, and is achieving impressive occupancy and rentals.

Our conversion work meant that we significantly increased its value, enabling successful re-finance for a substantial portion of our initial investment. This property is generating an impressive monthly revenue of approximately £8,000, with a remarkable surge in valuation from £290,000 to £650,000.


Headingley project in numbers

Overall figures

Purchase price

£290,000

Development cost

£140,125

Stamp duty

£0

Solicitors

£7,137

Misc. purchase costs

£0

Re-finance mortgage

£394,710

Mortgage p.a.

£23,704

Annual cost

£10,800

Annual rental income (Fixed Guaranteed Rent)

£54,000

Current market value

£650,000

Equity in property

£255,290

Forced appreciation

£219,875

Yield

Rental income p.a.

£54,000

Annual cost

£34,504

Yield £

£19,496

ROI

Annual profit

£19,496

Cash invested

£42,552

ROI

46%

Gross Yield

Rental income

£54,000

Gross cost

£437,262

Gross yield

12.3%

Net Yield

Annual profit

£19,496

Purchase price

£437,262

Net yield

4.5%


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