Key Information
- 69 Bed Purpose-built student accommodation
- Cluster rooms to produce £522,500 pa (GIY 8.36%)
- 1 x 4 bed, 1 x 6 bed, 5 x 7 bed and 3 x 8 bed
- Within 5 minute walking distance of Nottingham Trent University and adjacent to Victoria Shopping Centre
- An information pack including the following is available online: - Tenancy schedule - Annual Costings - Existing Floor Plans (for GUIDANCE ONLY) - Proposed Floor Plans for possible studios - Title Documents - EPC - Photographs A link to the password protected data vault is available from the agents.
- The premises are available to purchase at £6,250,000 representing £90,500 per bedroom and a gross initial yield of 8.36%.
The subject property comprises of a modern purpose built scheme, completed in 2024, that provides a total of 69 student residential units arranged as follows - 1 x 4 bed, 1 x 6 bed, 5 x 7 bed, 3 x 8 bed. The accommodation is finished to a high standard with spacious bedrooms and large open plan kitchen and living areas. A suite of photographs is available to view within the Data Vault.
Location
The premises are prominently located on the corner of Glasshouse Street and the Southern end of Howard Street, opposite the Victoria Shopping Centre, Nottingham's primary retail and leisure shopping centre, with established occupiers such as John Lewis, Boots, and Next. The property is within a 5 minute walk of Nottingham Trent University. The property benefits from superb transport links, the A60 is adjacent to the property and offers links to Nottingham's Southern Relief Route as well as Nottingham's Northern conurbations. The M1 motorway is situated to the West with Junction 24, 25 and 26 providing good access into Nottingham. The premises also benefit from strong public transport links, with multiple bus routes and the NET tram service and Victoria Bus Station located within walking distance.
VAT
VAT is not applicable.
EPC
Available from the agent.
Legal Costs
Each party is to bear their own legal costs incurred.
Accommodation
Measurements are quoted on a Gross Internal basis in accordance with the RICS Property Measurement Second Edition. All parties are advised to conduct their own measurements.
Planning
We understand the premises benefits from planning consent for the following uses: Use Class Purpose Built Student Accommodation/Sui Generis under the Town & Country Planning (Use Classes) Order 1987 as amended. (This information is given for guidance purposes only and all parties are advised to contact the local authority).
Viewing
Viewings are by appointment with sole agents Innes England