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Bath City Centre – Student Investment Opportunities

Flats 1, 2 & 3, 11-12 Westgate Buildings, Bath, BA1 1EB & 11, 11A and 12 Westgate Street, Bath, BA1 1EQ

Property Types:
Residential, Student

Description

  • Flats 1, 2 and 3 Westgate Buildings, comprises three fully let HMO’s with a total of 17 bed spaces
    • 2 x six bed flats
    • 1 x five bed flat
    • Total Gross Current Rent Reserved: £134,820 per annum
  • 11, 11A and 12 Westgate Street, fully let comprising one HMO and two retail units:
    • 1 x seven bed HMO
    • Retail unit let to Subway Reality Limited
    • Retail unit trading as American Nails
    • Total Gross Current Rent Reserved: £126,626 per annum
  • The properties are available individually or collectively
  • Overall Portfolio Total Gross Current Rent Reserved: £261,446 per annum
  • HMO tenants are responsible for the payment of all utilities and bills – HMO rents are exclusive of these costs
  • Student accommodation 100% let with annual rent increases throughout ownership
  • Central Bath location benefiting from excellent student demand with Bath being home to University of Bath, Bath Spa University and Bath College
  • Strong supply vs demand fundamentals with c. 24,000 students and only 7,826 PBSA bed spaces leaving 67% of the student population seeking accommodation away from PBSA
  • Bath has Article 4 restricting the future supply of more HMOs
  • Excellent retail location in central Bath with nearby occupiers including Pret A Manger, Boots, Superdrug and Poundland

Individual offers for each property will be considered:

Flats 1, 2 & 3, 11-12 Westgate Buildings – Offers in excess of £2,000,000 reflecting a gross initial yield of 6.74%

11, 11A & 12 Westgate Street – Offers in excess of £1,650,000 reflecting a gross initial yield of 7.67%

 

Subject to contract