R2RSA in York

Sourced are pleased to present another fantastic opportunity to take on a 2-bed flat for R2RSA in York City Centre. Located on the first floor, the property has a stunning open plan living room/kitchen with breakfast bar and skylight ensuring the room is drenched in natural sunlight. The apartments have been renovated to a high standard throughout whilst retaining the original parquet floors & high ceilings offer character to each apartment alongside the contemporary finish. The property has two double bedrooms, bathroom with shower over bath and an open plan living room/kitchen with new integral appliances. The property is in a fantastic location, just moments away from the Minster, Shambles Market and various other amenities.

The unit will comfortably be able to sleep up to 6 guests. The total rent payable for the unit is £1,600 which does not include bills. The financial figures provided also allow for management costs and OTAs and the profit is net after all costs.

The unit is available on a 3-year contract. This property will be fully managed by our managing agent, making it as hands-off as possible for you. We'll also get you set up on our online platform so you have full visibility of bookings/revenue. The management fee is 14% + VAT of net revenue. This includes full management covering everything from check-ins, check-outs, cleaning and maintenance.

You can pay for the furniture in cash which will be £5,500 inc. VAT. Alternatively, you can utilise a different form of funding you have access to such as a credit card, bank loan or asset finance.

Pictures, location details and a detailed financial breakdown are available on request.

Sourcing fee of £4,000 applies.

The Financials
▪ Rent: £1,600
▪ Ongoing monthly costs (including approx. bills): £393
▪ Average nightly rate: £218
▪ Revenue at 70% occupancy: £4,642
▪ Revenue at 85% occupancy: £5,637

▪ Deposit: £1,600
▪ Sourcing fee: £4,000
▪ Furniture: £5,500
▪ Total Upfront Cash Required: £11,100

▪ Monthly profit at 70%: £1,359
▪ Annual profit at 70%: £16,309
▪ Profit over 3 years at 70% (assuming no increase in nightly rates): £48,926

▪ Monthly profit at 85%: £2,077
▪ Annual profit at 85%: £24,928
▪ Profit over 3 years at 85% (assuming no increase in nightly rates): £74,785

▪ ROCE over 1 year at 70%: 147%
▪ ROCE over 3 years at 70% (assuming no increase in nightly rates): 441%
▪ Months till profit: 8