Commercial property
For Sale
Freehold Student Accommodation : Residential Development & Investment Opportunity - Spring Court, Spring Road, Ipswich

  • Established student accommodation investment opportunity in Ipswich town centre
  • In close proximity to the University of Suffolk Campus (c. 10-15 minutes’ walk)
  • Ipswich is also home to Suffolk New College, a 5-minute walk from the property
  • Located less than a mile from Ipswich town centre and its bars, clubs, retail and leisure facilities
  • 88 study bedrooms laid out over 24 self-contained flats surrounding a central courtyard
  • Landscaped grounds and secure gated car park
  • Registered with the University of Suffolk’s Accredited Accommodation Scheme
  • Freehold
  • Significant undersupply with only one other purpose built student scheme in Ipswich
  • Rooms let on a direct let basis and managed by Property First (a specialist in Ipswich student accommodation management)
  • Current gross income of £372,475 pa
  • Projected net operating income of £279,356 pa based on the current gross income
  • Our client is seeking offers in excess of £3.4m subject to contract and net of VAT for their freehold interest, reflecting a net initial yield of 7.72% assuming purchaser’s costs of 6.46% and a net initial yield of 7.84% assuming Multiple Dwellings Relief costs of 4.80%
  • Net initial yields based on current occupancy and 25% management costs
  • Very low capital value per bed of only c.£38,600 per bed
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