Ipswich – Student investment opportunity

Description

• Freehold student investment comprising 88 bed spaces arranged across 24 cluster flats:
  • 4 x two bed flats
  • 10 x three bed flats
  • 5 x four bed flats
  • 2 x five bed flats
  • 1 x six bed flat
  • 2 x seven bed flats
• Currently 94% let for Academic Year 2021/22
• Current Gross Rent Reserved for Academic Year 2021/22 (inclusive of bills): £376,836
• Estimated Gross Rental Income for Academic Year 2021/22 (assuming fully let): £399,815
• Excellent location: 15 minute walk from University of Suffolk, an 8 minute walk to Suffolk New College and 20 minute walk to Ipswich Hospital
• Original planning consent for “24 residential apartments”
• University of Suffolk student numbers have grown from 5,060 in 2014/15 to 9,565 in 2019/20
• Ipswich has a shortage of purpose built accommodation with only 744 PBSA bed spaces on offer

Offers are invited in excess of £3,650,000 subject to all existing tenancies, subject to contract.

A guide price offer reflects a gross yield of 10.32% based on the current gross rent received and an attractive price per bed space of £41,477.

Subject to contract