Prime Freehold Student Development

Transcription

1 Prime Freehold Student Development Excellent opportunities to enhance value he Quadrant, Shaw Street,, L HP On behalf of Administrators

2 Development Summary Freehold Part-built student block 0 bedrooms across 7 storeys Floor area of approximately 5, sq ft Site area of approximately 0.5 hectares (0. acres) Potential to construct two additional floors increasing accommodation to bedrooms SP Prime student site within walking distance to s universities GVA are instructed to seek unconditional offers

3 L ELLESMERE POR 0 5 Flint 7 5 A9 Development Summary M5 M7 A RO AD O W BR MACCLESFIELD 7 Access to the M and wider motorway network from the property is.5 miles east, via the 00 Edge Lane, whilst Lime Street - s main national railway station - is less than mile south west. Communications Aerial B57 RE E E S he property is located within an established mixed student area and benefits from a selection of shops, bars and leisure activities in close proximity. Description Accommodation Planning Asset Management / Market Commentary ROA D SREE H OP SREE 0 9 RODNEY RE E G D FIEL RIN he property also benefits from being within a short distance of John Moores University, the University of, Institute for performing Arts and the School of ropical Medicine. A 7 NORHWICH S 0 DU KE Q REE Immediately opposite the property facing south is a faculty building for Hope University, part of their Creative Campus which includes halls of residence for the university, whilst behind the site and directly opposite to the north is a mix of Georgian and Victorian dwellings. 7 5 Location/ Situation 5 7 A 9 5 M0 CK HALL ROAD 0 VAUX 0 OXFORD S WAV ER R EE he property is located in a prominent position on Shaw Street, close to its intersection with Islington Road North on the fringes of City Centre. Manchester Airport M A9 A 9 0 M5 B B B57 DURNING ROAD 57 5 REE 7 A H S WOR FARN 5 John Lennon Airport 5 RO River Mersey LD IE KF EC SPEKE WIDNES 05 EDGE LANE Situation A7 A BR 0 A 9 WARRINGON 57 LIVERPOOL LIME SREE SAION 9 50 GROVE SREE 0 7 LIVERPOOL 00 0M5 9 M 7 MANCHESER A ROYAL LIVERPOOL HOSPIAL DGE L ANE A00 AD RO BIRKENHEAD A Heswall N 5 M HUYON O ER Moreton S HELENS KNOWSLEY Wallasey 0 SALFORD EV 0 M57 BOOLE OAD WR SHA AINREE 0 05 E OLDHAM 0 5 M Crosby 0 H ROAD SOU 5 D EL FIR ER Y UE AY SW EN L NE UN D OA 9 M 5 5 M5 ES YR RB DE 0 SE M 0 H 9 W 0 07 R S 0 Ormskirk H E AL 7D 7 U NSINGON 7 KE QUEENSWAY UNNEL ENRANCE BOLON 7 NE 5 ROCHDALE 7 Formby M SO 7 0 B5 0 ALBER DOCK 50 7 SREE 5 M AD E BR B5 LEEDS EE ER M M SREE HOMER 0 O ROAD PEEL WAERS has world class academic and medical institutions which underpin its large student population estimated at 50,000 - the UKs third largest - which coupled with the recent increase in inner city living, the residential and leisure markets have seen both growth and expansion through development and refurbishment across the city region. Southport UNNEL N RO EVE A 5 05 s status as a UNESCO World Heritage Site is a major draw for tourism which combined with the cities maritime and musical links, numerous museums and galleries, the Philharmonic Orchestra, the Echo Arena and with its sporting heritage attract an estimated. billion spend by visitors per year. A EVERON PARK WAY MERSEY KINGS LO WAER he City has witnessed significant change across a number of sectors over the past decade, with over 5 billion of inward investment delivered through private and public sector partnership. his investment has seen output increase within the City region itself to an estimated 5 billion. and the wider region is the number one recipient of direct foreign investment in the UK outside of London and the South East. REA B57 G is the UK s fifth largest city and the commercial and administrative centre of the larger Merseyside area. Combined with Greater Manchester the two regions are the driving force of the 0 billion North West economy, the UK s second largest with a 7 million population. 9 SCOLAND ROAD 5 GREA HOWARD SREE Location Further Information

4 Communications Royal Albert Docks Shopping Centre Lime Street Station John Lennon Airport Queen Square Bus Station Echo Arena Royal University Hospital John Moores University LHU Creative Campus Yards here is also an abundance of local supermarkets, food outlets and bars/restaurants within easy walking distance making it a perfect location for student residential life.

5 Echo Arena Royal Albert Docks One Lime Street Station Museum of Radio City ower St John s Shopping Centre Port of Building St George s Hall Royal Liver Building Mersey Queensway unnel John Moores University Peel Waters Merseyside Police Hope University Creative Campus Royal University Hospital Everton Park

6 Description he property is a purpose, part-built student accommodation block over 7 storeys that when complete will provide 0 student bedrooms across a mixture of cluster flat accommodation and studio apartments. At ground level the building will be centred around a communal landscaped garden and internally will provide a reception area with a double height atrium incorporating communal break-out seating areas. he completed block will also provide car parking spaces and bike storage at basement level with vehicular access to the lower ground floor achieved via College Street North. Construction work at the property is understood to have ceased circa years ago. A schedule of works to complete, plans and other documents are available to download on the GVA data room. Existing Specification Generally, works are further progressed to the lower storeys in comparison to the upper storeys. he current specification of the property and remaining works required are detailed in the information pack on the GVA data room. Development Summary Location/ Situation Communications Aerial Description Accommodation Planning Asset Management / Market Commentary Further Information

7 Accommodation he property once completed will provide a total Gross Internal Area of approximately 7,90 sq m (5, sq ft) with the following accommodation: ype Number of flats Bedrooms Studio Flat Bed Cluster Flat 9 Bed Cluster Flat 0 Bed Cluster Flat 0 Bed Cluster Flat 0 0 OAL 5 0 Site Area he site extends to approximately 0.5 hectares (0. acres).

8 Planning Application Number: F/0 Full planning permission was approved in February 0 for a student accommodation block comprising of 0 no. cluster flats and no. studios (0 bedrooms) with landscaping and lower ground car parking and ancillary space. Copies of the planning permissions and the design & access statement are available to download on the GVA data room. We recommend that interested parties make their own enquires to City Council. CGI he below Computer Generated Image is for illustrative purposes only. ypical Floor Plan Layout

9 Asset Management Opportunities he development provides opportunities to enhance the overall capital value and potential return including; Construct two additional floors - Potential for obtaining planning consent to construct two further floors onto the development which would add a further 7 studio rooms and increase the overall number of bedrooms within the scheme to. Alternative use Subject to planning there may be the opportunity to convert the property to residential use. Interested parties should rely on their own enquiries with City Council. Market Commentary has a large student market being home to over 50,000 students and is a Russell Group university city. has four major higher education institutions within the City Centre, being University, John Moore s, Hope and Institute of Performing Arts, making it one of the largest regional student markets in the UK. It is not only popular with domestic students, but also with foreign students who account for around 9.7% of all places taken. he city has a high demand for purpose-built student accommodation as many of these institutions do not have enough purpose built accommodation to house their enrolled students. herefore, the market is dependent on private accommodation of which there are currently over 0 private sector purpose built schemes within. he strong interest in the Private Built Student Accommodation (PBSA) sector which was seen in 05 and 0, continued in 07 with over billion of assets transacting. here is a structural shortfall of PBSA in most of the UK and the supply of private student accommodation has failed to keep pace with the increasing demand. Research shows that rental values on average have increased across the UK with the highest growth in cities where development has been restricted over recent years, such as, and for accommodation which is more affordable such as cluster flat type rooms as opposed to studios and apartments. Investing in UK student accommodation provides steady rental growth, the ability to deliver a stable income and the long-term demand associated with it.

10 enure Further Information Freehold. Access to a data room providing a full information pack can be provided to interested parties. enancy o discuss the opportunity in greater detail and to arrange a viewing please contact: Sholom Cohen sholom.cohen@gva.co.uk Vacant Possession. EPC he subject property is yet to be completed and we therefore understand an EPC is not required in accordance with Section LA of the Building Regulations. Chris Walker 0 95 chris.walker@gva.co.uk gva.co.uk/7 VA Enquires are being undertaken in respect of the VA position. Proposal GVA are instructed to seek unconditional offers for the freehold interest. Each party will be responsible for their own legal costs. Evidence of funding will be required upon submission of all offers. GVA is the trading name of GVA Grimley Ltd an Apleona company. 07 GVA. GVA hereby gives notice that the information provided (either for itself, for any joint agents or for the vendors lessors of this property whose agent GVA is) in this brochure is provided on the following conditions: () he particulars are set out as a general outline only, for the guidance of intending purchasers and/or lessees and do not constitute an offer or contract, or part of an offer or contract. () All descriptions, dimensions and references to this property s condition and any necessary permission for use and occupation, and any other relevant details, are given in good faith and are believed to be correct. However, any intending purchasers or tenants should not rely on them as statements or representations of fact but satisfy themselves of their correctness by inspection or otherwise. () No person in the employment of GVA, or any joint agents, has any authority to make or give any representation or warranty whatsoever in relation to the property or properties in this brochure. () All prices quoted are exclusive of VA. (5) GVA shall have no liability whatsoever in relation to any documents contained within the brochure or any elements of the brochure which were prepared solely by third parties, and not by GVA. Development Summary Location/ Situation Communications Aerial Description Accommodation Planning Asset Management / Market Commentary Further Information