Sansome Hall

Student / Residential Investment Opportunity, Worcester

• Freehold
• Originally constructed as a purposebuilt student accommodation facility totalling 83 bed-spaces
• The property is now fully managed by Black Pear Lettings as a Student/ HMO/Residential investment with residents contracted on 6-12 month AST’S
• Centrally located, close to university campus with good access to local amenities
• The property is currently trading at c.75% occupancy with a gross income of c.£26,500 per month (c.£318,000 per annum)
• Excellent opportunity to increase occupancy levels, enhance income, refurbish and reposition the property
• Offers are invited in the region of £3,500,000 for the freehold interest, subject to contract
• Low capital value of £42,168 per bed space

Description

A unique opportunity to invest in a purpose-built student accommodation/residential block located centrally within Worcester, close to the university’s City Centre campus and benefiting from good access to the local amenities. There is limited competition offering a similar standard of accommodation in the vicinity and the property offers all en-suite cluster bedrooms. The property abuts the elevated Worcester Foregate Street train station which provide regular mainline services to Birmingham New Street and London. We believe there are significant asset management opportunities for refurbishment and redevelopment (subject to planning) to substantially increase occupancy and income over the short and long term ownership.

Sansome Hall was built in 2008 of modular construction and provides 83 en-suite bed spaces (excluding warden flat) in cluster flats arranged in a single building over part three and part four storey. The property has lift access to all floors. All rooms are en-suite and each cluster flat contains between six and ten bedrooms with an open plan communal kitchen and dining area. Internally, the property provides fully equipped spacious shared kitchens with washing facilities, bedrooms including en-suite shower rooms, a single bed, wardrobe, bookshelves and desk. The property also benefits from a secure bicycle storage area, WiFi internet connection and intercom entry system.