KINGFISHER HOUSE HUDDERSFIELD

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1 KINGFISHER HOUSE

2 KINGFISHER INVESTMENT OVERVIEW PRICE LIST PROJECTED RETURNS HOUSE P6-7 P8-9 P10-11 COMPARABLE ACCOMMODATION P12-13 RENTAL DEMAND PROPERTY SPECIFICATION UK STUDENT MARKET EDUCATIONAL INSTITUTIONS P14-15 P16-17 P18-19 P20-21 P22-23 DEVELOPER & OPERATOR CONSTRUCTION LOCATION PURCHASE PROCESS OPTIONS DISCLAIMER P24-25 P26-27 P28-31 P32-33 P KINGFISHER HOUSE, 3

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4 INVESTMENT OVERVIEW Kingfisher House is a new purpose built student accommodation development, bringing 252 luxury studio apartments to the heavily undersupplied student accommodation market in Huddersfield. STUDIO APARTMENTS FROM 57,495 9% NET RENTAL RETURN 5 YEAR RENTAL ASSURANCE 5% INTEREST ON DEPOSIT SPECIALIST OPERATOR LEASEHOLD TENURE 250-YEAR LEASE COMPLETION SCHEDULED Q MORE THAN 48,000 STUDENTS IN 6 KINGFISHER HOUSE, 7

5 PRICE Floor Town Side Studio Water Side Studio Accessible Studio LIST Podium 57,495 57,995 58,495 Upper Podium 57,495 57,995 58,495 G 59,495 59,995 N/A 1 61,495 61,995 62, ,495 61,995 62, ,495 62,995 63, ,495 64,995 65, ,495 64,995 65, ,495 64,995 65,495 8 KINGFISHER HOUSE, 9

6 PROJECTED RETURNS charges are not guaranteed and are subject to change. Trafalgar Properties LLC accept no as a general guide and based on what we believe to be correct but do not form part of any PROJECTED RETURNS Town Side Studio Water Side Studio Accessible Studio Purchase Price 57,495 57,995 58,495 STAMP DUTY LAND TAX and calculator at: Interest Accrued on Deposit Gross Rent (Per Week) Length of Tenancy (Weeks) Gross Rent (Per Annum) 6,834 6,885 6,936 Projected Service Charge 1,410 1,410 1,410 Ground Rent CONSUMER PROTECTION FROM UNFAIR TRADING REGULATIONS 2008 (CPR) Assured NET Rent (Per Annum) 5,175 5,220 5,265 NET Rental % 9.00% 9.00% 9.00% NET Rental Income (5 Years) 25,875 26,100 26,325 produced in good faith and are not intended to form part of a contract. 10 KINGFISHER HOUSE, 11

7 COMPARABLE ACCOMMODATION Property Type Weekly Rent Tenancy Distance from University of Huddersfield Distance from Kirklees College Kingfisher House Studio from weeks 600m 100m Firth Point Single En-Suite weeks 150m 790m Snow Island Single En-Suite weeks 380m 660m Single En-Suite weeks 420m 1km Saw Mill Accessible Room weeks 420m 1km Studio weeks 420m 1km Standard En-Suite weeks 4.8km 5.1km DIGS Storthes Hall Premium En-Suite weeks 4.8km 5.1km Double En-Suite weeks 4.8km 5.1km Standard En-Suite from weeks 480m 490m Aspley House Bronze Studio weeks 480m 490m Silver Studio weeks 480m 490m Standard En-Suite from weeks 480m 490m Little Aspley House Bronze Studio weeks 480m 490m Silver Studio weeks 480m 490m 12 KINGFISHER HOUSE, 13

8 RENTAL DEMAND Accommodation in Huddersfield Purpose Built / Converted Blocks Firth Point (UNITE) 200 Snow Island (UNITE) 427 Aspley (OPAL) 471 Little Aspley (OPAL) 256 Saw Mill (UNITE) 348 Knightsbridge 653 Total 2,355 University Accommodation Storthes Hall Park 1,386 Ashenhurst Houses 279 Total 1,665 Pipeline Kingfisher House 252 St Thomas St. (Planning Granted) 800 Thatchers (Town Centre) 40 Total 1,092 Total Supply 5,112 Summary of Huddersfield Student Numbers Full-time Undergraduates 13,800 Full-time Postgraduates 1,590 Total Full-time Students 15,390 Distance Students = 30% 4,617 Suggested Number of Students Requiring Accommodation in Huddersfield* 5,112 Forecast Total Supply 5,112 Forecast Total Demand 10,773 Variance -5, KINGFISHER HOUSE, 15

9 PROPERTY SPECIFICATION 252 STUDIO APARTMENTS NEXT TO KIRKLEES COLLEGE 0.4 MILES FROM UNIVERSITY OF EN-SUITE SHOWER ROOM & KITCHENETTE WATERSIDE LOCATION FURNISHED INCLUDING DOUBLE BED RECEPTION AREA & LAUNDRY FACILITIES CAR PARKING GAMES & TV SUITE, CINEMA ROOM & STUDY AREA 16 KINGFISHER HOUSE, 17

10 Huddersfield is the 10th largest town in the UK and is located between the Northern Powerhouse cities of Leeds and Manchester. HAS A POPULATION OF 146,234 IS THE 10th LARGEST TOWN IN THE UK IS HOME TO FOUR MAJOR EDUCATIONAL INSTITUTIONS UNIVERSITY OF KIRKLEES COLLEGE GREENHEAD COLLEGE NEW COLLEGE IS HOME TO NEARLY 48,700 STUDENTS EXCELLENT TRANSPORT LINKS VIA RAIL AND ROAD TO: LEEDS LONDON MANCHESTER SHEFFIELD 18 KINGFISHER HOUSE, 19

11 UK STUDENT MARKET The UK has one of the largest and most prestigious university and higher education systems in the world. With more than 2.2 million students studying in the UK, there is a large demand for student accommodation. According to Knight Frank, there is a structural undersupply of student accommodation within the UK. Overseas students are a major driver for PBSA, with the size of this group expected to rise by 15-20% in the UK over the next 5 years. 2.2M STUDENTS IN THE UK 23% OF DEMAND FOR ACCOMMODATION BEING MET BY UNIVERSITIES 3% INCREASE YEAR-ON-YEAR OF DOMESTIC STUDENTS IN THE UK 20 KINGFISHER HOUSE, 21

12 UNIVERSITY OF 24,920 STUDENTS ENROLLED EDUCATIONAL INSTITUTIONS EST 1825 RANKED IN THE SUNDAY TIMES TOP 20 FOR GRADUATE LEVEL EMPLOYMENT 80M INVESTED OVER THE LAST 10 YEARS AND FURTHER 100M PLANNED KIRKLEES COLLEGE RANKED 6TH IN THE UK FOR ITS GRADUATE LEVEL EMPLOYMENT, HIGHER THAN OXFORD OR CAMBRIDGE 13% OF STUDENTS ARE FROM OVERSEAS ONE OF THE UK S TOP PROVIDERS OF SANDWICH COURSES EST ,000 STUDENTS ENROLLED OFFERS DEGREE PROGRAMMES ACCREDITED BY THE UNIVERSITY OF ONE OF THE BIGGEST COLLEGES IN THE UK NEW 85M CAMPUS LOCATED NEXT TO KINGFISHER HOUSE 22 KINGFISHER HOUSE, 23

13 DEVELOPER & OPERATOR MEDERCO KINGFISHER HOUSE DEVELOPERS THE OPERATOR The developer of Kingfisher House is Mederco; incorporated in 2011 specifcally for developing high quality student accommodation. The company sits alongside Rainbow Homes Ltd., which develops residential housing in the North and North West England and has become one of the leading and fastest growing house builders in the area. The operator will be a specialist, independent student accommodation manager. They have expertise in both student care and property management required to successfully manage a development. APPLETON POINT APPLETON POINT BRADFORD PREVIOUS MEDERCO DEVELOPMENTS: HOCKNEY COURT EMPRESS MILLS STATION COURT BRADFORD TRAWDEN, LANCS. THORNE, DONCASTER This experienced operator already manages thousands of units and has been managing modern purpose-built student accommodation blocks for many years. They have built strong relationships with universities and are regarded as a preferred supplier for quality student accommodation; bringing experience and trust to the market. 160 purpose built student accommodation completed 2014 Development of 48 student units completed high specification houses and 12 luxury apartments, converted from a former mill Residential development of 15 apartments and 24 houses 24 KINGFISHER HOUSE, 25

14 CONSTRUCTION UPDATE The stone feature walling that will be applied to the bottom four floors of the building is now virtually complete, allowing for the installation of the cladding on the higher floors to commence. Installation of the windows has now begun in the areas where the stone walling has been completed and will continue up the building following the installation of the cladding. IMAGES TAKEN ON SITE IN NOVEMBER KINGFISHER HOUSE, 27

15 LOCATION Huddersfield New College 1 Kirklees College 0.07 miles 5 2 University of Huddersfield 0.13 miles Kingsgate Shopping Centre 0.16 miles 4 Greenhead College 0.25 miles KINGFISHER HOUSE, Manchester Road, Huddersfield Huddersfield Train Station 0.51 miles Huddersfield New College 2.16 miles 28 KINGFISHER HOUSE, 29

16 KINGFISHER HOUSE KIRKLEES COLLEGE 30 KINGFISHER HOUSE, 31

17 PURCHASE PROCESS RESERVATION Reservation form completed & 5,000 non-refundable fee paid and deducted from the deposit on exchange SOLICITORS INSTRUCTED Solicitors instructed, legal pack sent out & anti-money laundering process completed EXCHANGE OF CONTRACTS 50% of purchase price paid to solicitors & contracts exchanged within 28 days of reservation LEGAL COMPLETION The remaining 50% of the purchase price is paid, the purchase is completed & Title Deeds registered with the UK Land Registry 32 KINGFISHER HOUSE, 33

18 DISCLAIMER 1. This information is made available to the addressee subject to our terms and conditions. A copy of this information is made available to you for your personal use and must not be given, shared or communicated with any other person except for your own professional advisors for the sole purpose of obtaining their advice. 2. We endeavour to provide accurate, up to date and complete information but makes no warranties or representations as to the accuracy, reliability or completeness or otherwise of the information contained herein. We assume no responsibility or liability for any omissions or errors contained in the information. 3. We act as an agent for the developer and as such accepts no liability to the Purchaser. Further and in any event, if notwithstanding this provision liability is established against us, then it is agreed that the total maximum amount of such liability is limited to and shall not under any circumstances exceed the amount of the above reservation fee. 4. Purchasers are required to conduct their own due diligence and make their own judgement on the property being offered. Purchasers must verify the information and any speculative information offered by us. Purchasers are strongly recommended to perform their own financial and legal assessment of any opportunity prior to making any commitment to participate. 5. We do not provide or offer an opinion as to whether a particular property is appropriate for a particular individual and owes no duty of care to the Purchaser. 6. We only offer an opinion on the opportunity in general terms and in relation to the market as a whole. We are not able to comment or give opinions on the strength or validity of any bond or insurance policy and Purchasers are strongly recommended to perform their own diligence and seek legal opinion. 7. We do not accept any responsibility for amendments to or changes in rates of taxation, introduction of new taxes, changes to existing legislation or the introduction of new legislation or any matters relating to the final contractual arrangements for any purchase. 8. Where rental assurances or guarantees are offered as part of the purchase, the developer will contract directly with the purchaser to assure the rental income at the specified rate and for the specified duration, but this is not supported by an insurance policy, bond or bank, unless specified, nor is this warranted by us. 9. Descriptions of Property, Homes, Buildings, Locations or Development Particulars, Specifications and Pictures and Artists Impressions of any property, home, building, location or development are given in good faith and believed to be correct, but they do not form part of any offer or solicitation and are intended only as a general guide. We do not control the building or development of any project. 10. You acknowledge that developers reserve the right to alter plans, designs and specifications at any time without prior notice. We therefore will not be responsible for such changes. 11. All descriptions are intended only as a general guide and are not to be relied upon by you or any other interested parties as a statement or representation of fact and you should satisfy yourself by inspection or otherwise. 12. We have endeavoured to provide the highest quality information, backed up by substantial experience and proven evidence from the marketplace. However, individual interpretation of information may vary, and individual circumstances, skills, abilities, knowledge and attitude play an important part in achieving a particular outcome. In addition, the future behaviour of the property market may not follow past experience, either, internationally, nationally or locally. For this reason we do not warrant, guarantee or promise that you will make a profit from any property transaction entered into, whether as a result of acting on information contained within this document or otherwise. As with any purchase, this may make a loss. CONSUMER PROTECTION FROM UNFAIR TRADING REGULATIONS 2008 (CPR) These regulations prohibit unfair practices. To satisfy our obligations under the CPRs, our sales particulars have been prepared upon the instruction of the vendor and in accordance with these regulations. The property details are produced in good faith and are not intended to form part of a contract. The purchaser may be liable for property related taxes in connection with property purchases and ownership in addition to any ongoing personal or corporate taxation which may apply. 34 KINGFISHER HOUSE, 35

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