Bangor’s burgeoning popularity as one of the UK’s leading research universities, combined with its stunning location between the sprawling Snowdonian mountain range and teeming Irish Sea, make it a destination for UK and international students alike. The University attracts over 10,000 students every year and consistently achieves acclaim for its outstanding student satisfaction results, as well as for its clubs and societies. This robust reputation ensures that there is constant demand for all types of student housing in Bangor. Thankfully, at Varcity Living we have the skills and experience to service this demand and provide our investors with solid returns on their housing investments.
The opportunity for investment in rental property in Bangor, both residential and student, is huge, with property prices in prime locations relatively low in comparison to other major UK university cities. Continuing favourable investment interest rates – coupled with the recognition of student property by banks and mortgage providers as a reliable investment – make Bangor ripe for relatively low-risk investments.
Whilst this makes the market increasingly competitive, there continues to be a considerable volume of available property that can be renovated and developed to garner impressive returns on your investment. At Varcity Living we’ve made a name for ourselves as reliable suppliers of luxury student homes. We’ve seen demand for our quality student housing continue to grow, and as such we’re in a prime position to take advantage of the trend in student property investment.
Investing with us
Our breadth of knowledge and expertise on Bangor’s housing market is unparalleled, with our dedicated team committed to providing detailed advice at every stage of the investment process. Whatever the scale or purpose of your investment we offer a comprehensive service; from sourcing the right property to taking care of management. Below is a sample of what you can expect when you invest with Varcity.
A true ugly duckling to swan transformation, 19 Albert Street was in an unloved condition, with the existing layout unable to make the most of the space. We moved existing utility connections, took out walls and ceilings and finished it all in a modern and attractive style. You can read more on the intricacies of the project and the numbers that went into it right here.
We gave a new lease of life to a neglected 7-bed end terrace in the heart of Upper Bangor’s busy student district, including structural alterations, considered, modern finishes and a considerable ROI. Find out more about 1 Snowdon Villas here.
Lettings and management
Once any renovations or buildings works on your property have been completed it is its ongoing management that will safeguard your investment. At Varcity we manage over 900 bedrooms across 300 homes. As a result we are one of Bangor’s most trusted and established student lettings agencies, so you can be sure that your investment is in safe hands with us. We endeavour to do things right the first time, every time; so you can concentrate on the things you love.
Should you require our assistance in sourcing a suitable property we charge a 1.5% ‘finders’ fee based on the sale price of the property (our minimum ‘finders’ fee is fixed at £1,500; should 1.5% of the sale price fall below this amount you will be obliged to pay £1,500 as standard).
The majority of our housing investor projects require a level of renovation work in order to maximise their potential yields. Should your project require this service we will manage the entire design process for you, liaising with architects, engineers, contractors and all other associated persons. Our design fee for this type of service varies depending on the complexity of the project so contact our team to get a bespoke quote.
Our project management service takes the completed design from the quoting process all the way through to the completion of renovations, with fees charged on a ‘cost-plus’ basis. This means we charge you the cost price of all labour and materials involved, as well as a 10% project management fee. This fee will be a calculation based off the total cost of all works upon completion.
Management fees are normally based around 12 – 18% of gross rental income, however this is dependent on the condition of the property and the work required to maintain or renovate it. Varcity Property Management also offers discounted packages for management of a portfolio of multiple properties. See our price list for more information on our property management fees. All fees are subject to VAT at the applicable rate.
