For Sale

Falmouth – Student Investment Opportunity

Carrick View, 110 Kimberley Park Road, Penryn, Falmouth, TR11 2FF

Offers in excess of £11,000,000

Property Types:
Residential, Student
Tenure:
Freehold

Description

  • Freehold
  • Purpose Built Student Accommodation (PBSA) investment comprising 118 bed spaces
  • Newly delivered development for Academic Year 2021/2022
  • 118 bed spaces comprising:
    • 109 ensuite rooms arranged in 16 cluster flats
    • 9 studio flats
  • One year signed nomination agreement with FXPLUS (Falmouth Exeter Plus) for 109 ensuite bedrooms (40 week tenancies)
  • Remaining 9 studios 100% forward let for AY 2021/2022 on a direct let basis and subject to ASTs
  • Total Gross Rent Reserved: £894,131
  • Forecasted operational expenditure: £252,852 (£2,143 per bed)
  • Projected Net Operating Income (NOI): £641,279
  • Operated by multi award wining management; CRM Student
  • Upwards of 8,500 full time students split between two campuses: Woodlane and Penryn
  • Excellent location in Falmouth, close to both Penryn Campus and Woodlane Campus which are home to students from Falmouth University and the University of Exeter

Offers are sought in excess of £11,000,000 (Eleven Million Pounds) for the freehold interest, subject to nomination agreement, existing tenancies and contract.

Subject to contract