Lancaster – PBSA student investment opportunity comprising 230 bed spaces

by Dima

Created Aug 04, 2021 | Lancaster, UK

$0 raised of $10,000,000 goal 0.00%

Well located city centre student accommodation comprising a total of 230 direct-let bed spaces
Arrnaged as three, four and five bedroom non-ensuite cluster flats
Offering an affordable option for students, with highly competitive rental levels on par with HMO rents in the city
Fully operational development with asset management opportunity
Projected GOI for AY 2021-22: £1,093,943
Projeced NOI for AY 2021-22: £640,833 (£1,970 per bed)
Currently operated by award winning student operator: The Student Housing Company
Lancaster is a top 10 UK University city benefitting from year-on year student growth and a limited planning pipeline
Offers are sought in excess of £10,000,000 (Ten Million Pounds) subject to contract, which reflects a net initial yield of 6.23% on the projected 2021-22 Net Operating Income based on purchasers costs of 2.80% and assuming MDR is applicable (*buyers must reply on their own due diligence re MDR)
Asking price reflects a very low capital value per bed space of £43,478