Commercial property Sold
Prime Student Accommodation Investment Opportunity - St Catherine's Yard, Surrey Street, Norwich
Property > Commercial > Property Sold in Norwich
Summary
Rare opportunity to purchase a landmark purpose-built student accommodation scheme in Norwich city centre
307 beds made up of 266 en-suite clusters and 41 studios
A focus on the core principles of amenity space, student experience and operational efficiency
Norwich is home to the University of East Anglia, Norwich University of the Arts and is the core business centre for Norfolk and East Anglia
Approximately 68% (10,938) of full time students in Norwich are unable to access PBSA
Freehold
Construction due to commence Q1 2018
Practical Completion scheduled for Q3 2019
Total GIA of 8,433 sq m (90,773 sq ft)
Projected gross income of £2,427,425pa
Projected net operating income of £1,810,927pa assuming 98% occupancy and projected management costs of £1,850 per bed
Offers are invited for our client’s freehold interest in excess of £29,650,000 subject to contract and exclusive of VAT, reflecting a net initial yield of 6.00% on a forward funding basis, assuming purchaser’s costs of 1.8%
Gallery
Done
Transport
Airport
Bus Station/Stop
Tube Station
Train Station
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