City Residence. City Residence FOR SALE PRIME STUDENT RESIDENTIAL INVESTMENT OPPORTUNITY FOR SALE PRIME STUDENT RESIDENTIAL INVESTMENT OPPORTUNITY

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Eileen Tate
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1 FOR SALE PRIME STUDENT RESIDENTIAL INVESTMENT OPPORTUNITY 1

2 CITY CENTRE 12 MINUTES WALK MINSTER STATION ST JOHN UNIVERSITY CAMPUS - 7 MINUTES WALK HOSPITAL HAXBY ROAD 2

Investment Summary udent development comprising 124 ensuite bedrooms Fully let to York John University until September 2026 Freehold Within 7 minutes walk of University Campus Current income of

3 Investment Summary udent development comprising 124 ensuite bedrooms Fully let to York John University until September 2026 Freehold Within 7 minutes walk of University Campus Current income of 491,969 per annum Fixed increase to 577,282 per annum in September 2021 Tenant only break option September 2022 We are instructed to seek offers in excess of 6,835,000 (Six Million Eight Hundred and Thirty Five Thousand Pounds), subject to contract and exclusive of VAT. A purchase at this level reflects a Net Initial Yield of 6.75% assuming purchasers costs of 6.65% and a reversionary yield of 7.92% in September

York The historic City of York lies in the centre of the United Kingdom, equidistant from London and Edinburgh, and is internationally renowned for its architecture,

Economy The City is an international business destination and currently supports some 100,000 jobs and contributes 3 billion of value to the national economy.

dynamic businesses operating in a diverse range of sectors from finance and insurance to IT, digital and creative technologies.

4 York The historic City of York lies in the centre of the United Kingdom, equidistant from London and Edinburgh, and is internationally renowned for its architecture, heritage and tourism. York is the UK s first UNESCO City of Media and Arts and the UK s founding Science City and first Gigabite City. Economy The City is an international business destination and currently supports some 100,000 jobs and contributes 3 billion of value to the national economy. According to growth projections for the City up to 2030, the York economy is set to grow at a faster rate than both the UK and regional averages (Source York is home to internationally competitive industry and research expertise in biosciences, healthcare/medicine, bio-renewables and high tech rail, as well as growing and dynamic businesses operating in a diverse range of sectors from finance and insurance to IT, digital and creative technologies. The City also has two universities, the University of York and York John, with student numbers of approximately 20,000. With the most resilient economy in the North of England, York also offers an outstanding quality of life, from world renowned heritage and diverse, quality housing to retail and tourism/leisure opportunities. In 2012, total visitor numbers were 7 million who contributed over 575 million to the local economy. 4

Road The City is positioned 27 miles north east of Leeds and has excellent road links, being situated on the A64 dual carriageway which connects with the national motorway network via Junction 44 of

5 Road The City is positioned 27 miles north east of Leeds and has excellent road links, being situated on the A64 dual carriageway which connects with the national motorway network via Junction 44 of the A1(M) to the south west. Rail York enjoys excellent communications via the rail network with a regular service to London (Kings Cross) and a fastest journey time of approximately 1 hour 50 minutes. Air Leeds Bradford International Airport is situated approximately 38 km (24 miles) to the south west and Durham Tees Valley Airport is approximately 56 km (35 miles) to the north. Demographics/Employment At the 2011 Census, York had a population of 198,000 a 9.4% increase since Since 1971, York s population has grown by nearly 31% with a 19,000 population increase over the last decade. At 2011, York had total employees of 103,000 with slightly above average concentrations of finance, professional and business services and other services employees. The City boasts an affluent demographic profile with a significantly above average representation of the adult population within the most affluent A, B & C social grouping. York s economy is forecast to grow by 9.50% by 2021, which is greater than major regional cities such as Birmingham, Liverpool and Sheffield. Unemployment at September 2014 stood at 1% compared to the GB average of 2.6%. A1237 A19 River Ouse To Middlesborough and A1 (M) SHIPTON RD BOROUGHB RIDGE RD B1224 A59 CLIFTON MOOR TADCASTER RD GT CLIFTON RD B1363 HAXBY ROAD HAXBY RO AD CITY CENTRE FULFORD RD MALTON RD A1237 LAWRENCE ST A1079 A64 A64 To Hull Major employers in York include Aviva, Network Rail, Northern Rail, City of York Council, York Hospitals NHS Trust, University of York and Tesco. A64 To M62 (J37) To Leeds and A1(M) J45 5

Situation WIGGINTON ROAD HAXBY ROAD HUNTINGDON ROAD DODSWORTH AVENUE POTTERY LANE The property is situated on Haxby Road which in turn connects to the B1363 both of which are main

A19 GROSVENOR TERRACE HOSPITAL CLARENCE STREET LOWITHER STREET TOWNEND STREET LOWITHER STREET The accommodation is located 0.

The accommodation benefits from the public transport bus routes along Haxby Road along with numerous provisions to cater for student living.

ST JOHN UNIVERSITY CAMPUS SYCAMORE TERRACE LONGFIELD TERR FREDERIC ST ST. MARY S MARYGATE A19 MUSEUM GARDENS BOOTHAM ST.

6 Situation WIGGINTON ROAD HAXBY ROAD HUNTINGDON ROAD DODSWORTH AVENUE POTTERY LANE The property is situated on Haxby Road which in turn connects to the B1363 both of which are main arterial roads connecting York City Centre to the A1237 York Outer Ring Road. A19 GROSVENOR TERRACE HOSPITAL CLARENCE STREET LOWITHER STREET TOWNEND STREET LOWITHER STREET The accommodation is located 0.3 miles (a 7 minute walk) from York John University Campus and York Hospital. The accommodation benefits from the public transport bus routes along Haxby Road along with numerous provisions to cater for student living. Amenities include Londis and Boots Pharmacy as well as various bars, pubs and cafes en route to York City Centre. ST JOHN UNIVERSITY CAMPUS SYCAMORE TERRACE LONGFIELD TERR FREDERIC ST ST. MARY S MARYGATE A19 MUSEUM GARDENS BOOTHAM ST. LEONARD S PL GILLYGATE MINSTER MINSTER YARD LORD MAYOR S WALK OGLEFORTH GOODRAMGATE MONKGATE JEWBURY WELLINGTON ROW MUSEUM ST LENDAL STONEGATE DAVYGATE LOW PETERGATE SWINEGATE LEEMAN ROAD CONEY ST ROUGIER ST RIVER OUSE SPURRIERGAT E PARLIAMENT STREE T SHAMBLES THE STONEBOW RAILWAY STATION STATION RD TOFT GREEN TANNER ROW MICKELGATE TRINITY LN ST. MARTIN S LANE NORTH ST SKELDERGATE BRIDGE ST RETAIL CORE B1227 COPPERGATE CLIFFORD ST COPPERGATE CENTRE CASTLEGATE COLLERGATE FOSSGATE PICCADILLY RIVER FOSS WALMGATE WALMGATE FO S ISLANDS ROAD PRIORY ST NUNNERY LN LOWER PRIOR ST BISHOPHILL SENIOR B1227 SKELDERGATE BRIDGE TOWERGATE PARAGON STREET 6

7 Description Previously a nurses home dating from 1911, s comprises three buildings within a secure gated compound. The largest building consists of a three storey Victorian style building constructed from red brick elevations and a pitched stale roof. The two additional buildings are located at the rear of the site and are of more recent construction with red brick elevations and pitched pantile roofs. The site area extends to acres. 7

$D W W AD008 AD006 AD007 AD005 AD009 AD010 AD003 AD004 AD011 AD012 AD002 AD001 AD015 AD013 AD014 AD023 Dwg Title AD022 AD017 AD016 AD021 AD018 AD019 AD020 S:\Facilities\Estates\\Plans\Flat Y.$

8 D W W AD008 AD006 AD007 AD005 AD009 AD010 AD003 AD004 AD011 AD012 AD002 AD001 AD015 AD013 AD014 AD023 Dwg Title AD022 AD017 AD016 AD021 AD018 AD019 AD020 S:\Facilities\Estates\\Plans\Flat Y.dwg, A3 Land Sketch Building Proj. Number Arch Mech Elec ruc Dwg. Created Sheet Drawing Number Bedroom 6 Bedroom5 Bedroom 4 Work Order Number Civil Drawn By KW Issue & Revision ore Kitchen Bedroom 1 Bedroom 2 Bedroom 3 Dining Dwg Title atus Building FOR SALE PRIME STUDENT RESIDENTIAL INVESTMENT OPPORTUNITY Tenure Freehold The site extends to acres. Accommodation extends across three buildings comprising a cumulative total of 124 en-suite bedrooms. Block Number of Flats Room Type No of beds Approximate Average Room Size m² Approximate Average Room Size ft² Main Block 17 andard Block A 5 Block B 3 SET NOTES andard Large andard Large In addition there are 31 car spaces located in a secure compound amongst the three buildings. SET NOTES Laundry FLAT - G 80.1m2 STAIRCASE FOUR FLAT - E 94.5m2 Bed 5 Main Block Block A Block B 1.4m2 Up 13.3m m2 CL FLAT - F 113m2 Bed 5 STAIRCASE THREE FLAT - D 86.3m2 Bed 3 STAIRCASE TWO CL Bed 5 FLAT - C 117.9m2 CL CL FLAT - B 108.2m2 Lobby STAIRCASE ONE Lobby Bed 6 FLAT - A 133.5m2 Bed 5 ore 1.8m2 B 11.68m m2 Bedroom 4 Bedroom 1 Bedroom 2 Bedroom sq.m sq.m Bedroom 2 Bedroom sq sq.m sq.m sq.m 6.59m2 FLAT - T 82.4m2 2.1m2 Kitchen sq.m 13.76m m2 Bedroom 1 Up sq.m 2.1m2 F 13.5m2 Dn Up FLAT 6.59m2 - U 82.4m2 13.8m2 Kitchen sq.m Entrance 12.06m m2 Lobby Bedroom sq.m ore 1.8m2 B 10.45m2 FLAT - Y 123.6m m2 Ground Floor Plan Ground Floor Plan Ground Floor Plan BLOCK B - FLAT Y GROUND FLOOR PLAN RECORD CITY RESIDENCE (CITY) FLATS A,B,C,D,E,F,G Proj. Number Dwg Title Arch Mech Elec ruc GROUND FLOOR PLAN Dwg. Created atus Scale. 1:200 Building RECORD CITY RESIDENCE (CITY) CITY RESIDENCE Work Order Number Civil Drawn By KW Issue & Revision Sheet Drawing 1 of 3 Number CITY(A-G)-00 - S2 LORD MAYORS WALK, YO31 7EX t: BLOCK A - FLATS T,U GROUND FLOOR PLAN atus Scale. 1:100 RECORD CITY RESIDENCE (CITY) CITY RESIDENCE - S2 1 of 3 CITY-(T-U)-00 LORD MAYORS WALK, YO31 7EX t: CITY RESIDENCE 8

Tenancy The property is let in its entirety to York John University College on a 25 year lease producing a current rental income of 491,969 per annum.

9 Tenancy The property is let in its entirety to York John University College on a 25 year lease producing a current rental income of 491,969 per annum. Revenue from the 2018/2019 accommodation rates equates to 653,020 per annum when fully let significantly above the rent passing: Type Quantity Cost (2018/2019) Total andard Bedroom 115 5, ,520 Tenant Lease art Break Lease Expiry Annual Rent Fixed Rent Review in 2021 Large Bedroom 9 5,500 49, ,020 York John University College 06/09/ /09/ /09/ , ,282 York John University York John University is a public university which achieved university status in 2006 and is now a designated Centre of Excellence. The University is an exempt charity under the Charities Act As a university, it contains nine individual school departments for teaching which include; Art and Design; Education; Health Sciences; Humanities, Religion and Philosophy; Languages and Linguistics; Performance and Media Production; Psychological and Social Sciences; Sport and York Business School. The University itself is established across 11 acres of York City Centre and neighbours the city walls of York and York Minster. In the 2016 financial statement, the University reported 6,463 students and 783 staff. For the year 2016, York John University and College reported an income of 58.7 million. Alongside this, the University has demonstrated continued investment in its campus surrounding the subject property and in the last five years has invested over 30 million into the estate. This includes 8.9 million in respect of the purchase and redevelopment of the Haxby Road Sports Park, 1.3 million on the udents Union facility, 1.0 million on an extension of the dining room and 1.6 million on teaching and IT facilities. The University published an income of 58,681,000 in 2016 along with an expenditure of 58,295,000. This represents a surplus of 386,000 for The University also published a growth in fixed asset value of 2,667,000 between 2015 and 2016 bringing its 2016 fixed asset value to 123,827,000. The annual rates compare very well to other ensuite accommodation in York: John Central 5,751 per annum Percy s Lane 5,752 per annum Halifax College 6,830 per annum udent Accommodation The University operates a number of residences within York as detailed below:- Scheme No of Beds Cost (Term) Walking distance to University The Grange 412 4,400 (44 weeks) 10 Minutes Limes Court 125 4,441 (44 weeks) 15 Minutes Lord Mayor s Walk 120 4,779 (34 weeks) 2 Minutes Percy s Lane 500 5,752 (46 weeks) 20 Minutes John Central 250 5,750 (44 weeks) 15 Minutes Only Percy s Lane and John Central offer ensuite accommodation. Residential Re-development York has experienced positive growth in the residential sector with PRS and permitted development leading property investment. The city has benefitted from positive rental growth in tandem with modest supply growth. To this end, the subject property could be ideal for conversion from student residential accommodation to traditional residential accommodation. 9

VAT The property is elected for VAT and it is envisaged that the sale will be treated as a Transfer of a Going Concern (TOGC). EPC Available upon request.

10 VAT The property is elected for VAT and it is envisaged that the sale will be treated as a Transfer of a Going Concern (TOGC). EPC Available upon request. Proposal We are instructed to seek offers in excess of 6,835,000 (Six Million Eight Hundred and Thirty Five Thousand Pounds), subject to contract and exclusive of VAT. A purchase at this level reflects a Net Initial Yield of 6.75% assuming purchasers costs of 6.65% and a reversionary yield of 7.92% in September Further information For further information including access to the data room and viewing arrangements, please do not hesitate to contact one of the sole agents:- Mathew Atkinson DD: mathew.atkinson@eu.jll.com Richard Hinds DD: richard.hinds@eu.jll.com Crown Copyright All rights reserved. Promap licence number Jones Lang LaSalle licence number This plan is published for the convenience of identification only and although believed to be correct is not guaranteed and it does not form any part of any contract. Disclaimer - JLL for themselves and for the vendors or lessors of this property whose agents they are, give notice that:- a. the particulars are set out as a general outline only for guidance and do not constitute, nor constitute part of, an offer or contract; b. all descriptions, dimensions, references to condition and necessary permissions for use and occupation, and other details are believed to be correct, but any intending purchasers, tenants or third parties should not rely on them as statements or representations of fact but satisfy themselves that they are correct by inspection or otherwise; c. no person in the employment of JLL has any authority to make or give any representation or warranty whatever in relation to the property; d. Any images may be computer generated. Any photographs show only certain parts of the property as they appeared at the time they were taken. For properties in Scotland: e. This correspondence is expressly subject to completion of formal legal missives in accordance with Scots Law Copyright Jones Lang LaSalle IP Inc January All rights reserved.

Units C1 & C2. Avenue Industrial Estate Pentwyn CF23 8HE PRIME REVERSIONARY SINGLE LET INVESTMENT

Units C1 & C2. Avenue Industrial Estate Pentwyn CF23 8HE PRIME REVERSIONARY SINGLE LET INVESTMENT PRIME REVERSIONARY SINGLE LET INVESTMENT Selling on behalf of A C Wright & S J Hunt - Joint LPA Receivers INVESTMENT SUMMARY Strategically situated in an established industrial location, with easy access