Luxury student rooms set for online property auction

Six luxury student pods in Manchester are set to go under the hammer in an online property auction.

The investment opportunity, brought by John Pye Property, is one from a lot of 30+ worth more than 3.4 million to go to auction this month.

Considered a 'hands off investment opportunity' the six rooms are available with a guide price of £120,000 and are located in Monty Hall, a three-story student accommodation block in Whalley Range.

Richard Reed, head of property at John Pye Property Auctions, said: "Manchester is a thriving city with a huge student population. Demand for luxury student living remains high which makes this sale an easy investment opportunity for someone looking to expand their property portfolio.

"Managed by an external agency, investors need not worry about sourcing tenants and could benefit from a net yield of 11.55 per cent.

"Unlike traditional student accommodation, the six rooms come furnished with double bed, wardrobe, desk and sink. The rooms sit within a two-acre garden with sports facilities and BBQ area too.

"Selling through online auction means we achieve a huge amount of interest in residential properties – including London investors, and potential buyers from overseas.

"This not only reflects the rise in popularity of property auctions online, but also shows an increased level of confidence in snapping up residential property as an investment proposition.”