There is a brand new development being built in Sheffield City Centre and I have done some research on it.
Situated next to the already established Mandale House sits a block full of studio apartments, Bells Court. 

A brand new studio in this development could attract a monthly rent of £475 and would be likely to be very popular and therefore rent quickly.
If you were to buy one of these at the asking price, you would be looking at a yield of  8.1% which I am sure you’ll agree is very healthy!

Purchasing any new build always carries a slight risk as you never know the popularity as much as you can with already established developments but the numbers for this one certainly make for pleasant reading.