2011 - 2012

The six-storey Maritime Studios development near Falmouth Docks, Cornwall’s first purpose-built student accommodation off campus providing 146 studio apartments was completed in October 2008, with “five star student living standards.”

The accommodation is providing a great place for students to live in their own personal space with good level of security (a building manager on site 5 days a week; controlled access to the building; individually locked studios; CCTV cover both inside and outside the building and security patrols), and the opportunity to socialise out of college and university. 

The demand from students wanting to live at Maritime Studios for the duration of their studies is such that last year (2010) we closed the application list with over 100 students still on the waiting list!  As a parent who is looking for the best quality student accommodation, both on and off campus, there is the opportunity to buy the studio of your choice, and then to realise an ongoing return by letting to another student once your son or daughter has completed their time at the Combined Universities in Cornwall.

In March 2011, over 50 per cent of the studios are already pre-let for the next academic year starting in September 2011, so for an investor buyer looking to add to an existing portfolio there is an opportunity to see a return of over 6% on your capital outlay with a student tenant already in place.

“With the current low interest rates for savings and the value of savings eroded, Maritime represents an opportunity to safeguard a great return on investment as well as gain from capital growth in the medium term.” said managing director Lawrence Butler.

“The apartments have been universally acknowledged as wholly exceptional in quality and the feedback from the students themselves has left us in no doubt just how popular they have proved.”

Whether a mature or 1st year student, Maritime Studios provides a safe and sociable modern environment; for the investor, the apartments’ sale prices range from £85,000 to £115,000, there is an opportunity within a location of increasing demand to secure safer yields, set against a backdrop of a burgeoning town where development is linked closely to the improving prosperity of the area providing a sound foundation for an investment opportunity.

With an established team, Devington Homes are familiar with dealing with both investor and parent purchasers. For detailed breakdown of expected rental returns for the coming year, please contact us.