Buy To Let Potential In Empty Buildings

UK property investment expert, Stephanie Sowerby, has explained that people looking to get into the buy to let market should consider investing in empty buildings and converting them into property for students.

This is especially so with the shortage of available properties in city centres. Purchasing unused buildings inexpensively can give buy to let owners an opportunity to provide for universities’ growing need to provide accommodation for their students.

Ms Sowerby said, "Student accommodation needs to be centrally located but a lack of suitable places to build in city centres, combined with the current shortage of student accommodation means it makes perfect sense to redevelop existing buildings."

A property investor can find an unused building in an ideal location and then redevelop it and, because it is already built, this cuts out building costs, which means the savings can be passed on to investors and then, ultimately, the students who will live there."

Furthermore, Stuart Cook, an expert on student accommodation, stated several aspects that should be considered by a potential investor. For example, care should be taken in locating a suitable city, the scale and type of universities in the area, and the number of students that apply.

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