CITY CENTRE STUDENT LED DEVELOPMENT INVESTMENT OPPORTUNITY 789 STUDENT BEDS & 9,743 SQ FT OF RETAIL/RESTAURANT SPACE ALL ENQUIRIES A DEVELOPMENT BY Fitzwilliam Street S1 4JR www.littonproperties.co.uk www.buccleuchproperty.com
Fitzwilliam Street S1 4JR EXECUTIVE SUMMARY A unique opportunity to purchase an exceptionally well located student led development for delivery in August 2018. The development will be submitted for planning to provide a total of 601 en-suite bedrooms arranged in cluster flats alongside 188 self contained studio units. The site fronts on to both Fitzwilliam Street and Moore Street in the city centre and is in close proximity to The University of, both Hallam University campuses and the teaching hospitals. Within a few minutes walk of the scheme are a variety of prime high street shops, independent shops, restaurants and bars. has c.59,408 full time students. Both Universities have c.50 halls of residence and offer c.11,500 bed spaces along with c.6,800 direct let bed spaces, which totals c.18,300 existing bed spaces. This is a clear under supply when compared to the number of students in. Currently c.40% of s students live in HIMO s against a UK average of c.30%. Therefore there is an immediate predicted demand of c.6,000 beds in new build accommodation to bring in line with the national average. The University of opened in September 2015 an 80 million new Diamond building comprising lecture theatres, seminar rooms, open-plan learning spaces, library services and social spaces. Hallam University is midway through a 95m development plan for its campuses, following heavy investment in buildings and staff over the last 10 years. This has included a new 14m Faculty of Health and Wellbeing in addition to a new social centre and a 6m sports research facility which is one of the largest of its kind in Europe. Also the Faculty of Development and Society has a new 30m building due to open in 2016 which will primarily focus on training teachers and house the Institute of Education. STUDENT LED DEVELOPMENT INVESTMENT OPPORTUNITY sheffield CITY CENTRE 2
Devonshire Green Fitzwilliam Street S1 4JR Inner Ring Road 5 mins walk A6134 Hanover Way 3
AY CROOKES VALLEY PARK University Campuses NHS TEACHING HOSPITALS CLARKHOUSE ROAD SHEFFIELD BOTANICAL GARDENS Weston Park Hospital Jessop s Hospital A57 Laser Vision Sick Children Trust Charles Clifford Dental G LOSSOP ROAD Children s Hospital SHEFFIELD HOSPITALS Breast Screening University of A625 ECCLESALL ROAD HANOVE R W AY Netherthorpe WEST STREET Fitzwilliam Street S1 4JR B R OAD LANE DEVONSHIRE GREEN MOORE STREET LONDON ROAD West Street City Hall CHARTER ROW SHEFFIELD CITY CENTRE CITY HALL 5 mins walk PINS T O N E RO A D JOHN LEWIS FURNIVAL GATE EYRE ST REET BRAMALL LANE CATHEDRAL FARGATE M&S TOWN HALL 10 mins walk Cathedral MILLENNIUM GALLERIES Castle Square CRUCIBLE THEATRE U N D E L GATE A R A61 A61 ST MARY S GATE BRAMALL LANE SHEFFIELD UNITED FOOTBALL CLUB LYCEUM THEATRE WINTER GARDENS Fitzalan Square PONDS FORGE 02 ACADEMY ODEON S H OREHAM S TREET Railway Station DUKE ST SHREWSBURY ROAD Granville Road SHEFFIELD COLLEGE 4
Fitzwilliam Street S1 4JR Fitzwilliam Street S1 4JR LOCATION is linked to the national motorway network via the M1 and M18 motorways. The M1 skirts the north - east of the city, linking with London to the south and Leeds to the north. The M18 branches from the M1 close to, linking the city with Doncaster Robin Hood Airport, Doncaster and the Humber ports. is well connected by rail and there are direct trains to London St Pancras with a journey time of c. 2 hours. A direct train to Manchester takes c. 51 minutes. The scheme itself is located on the corner of Fitzwilliam Street and Moore Street in the centre of equidistant to the 3 University campuses, each within 10 minutes walk. The development is located a 5 minute walk to the shopping district that includes John Lewis, M&S, Waitrose, Debenhams, The Moor and The New Retail Quarter. It is very close to the popular Devonshire Green. STUDENT LED DEVELOPMENT INVESTMENT OPPORTUNITY sheffield CITY CENTRE 5
BLOCK B Fitzwilliam Street S1 4JR 1 2 BLOCK C BLOCK D BLOCK A STUDENT OCCUPATIONAL STRUCTURE It is proposed that the student element is let on a direct-let basis to students of The University of and Hallam University. 9 3 5 12 4 21 6 7 8 City Centre SHU Accommodation Services have been involved with the Moore Street development since its inception, and we believe that it will be a valuable addition to our portfolio and support the University in its recruitment, growth and developments of both the Collegiate Crescent Campus and City Campus. Accommodation Services Manager Hallam University Engagement has been held with the University of who are positive about the location and scheme. A625 ECCLESHALL ROAD 10 11 18 13 22 14 17 19 15 16 STUDENT LED DEVELOPMENT INVESTMENT OPPORTUNITY sheffield CITY CENTRE 20 6
NOMINATION AGREEMENT Hallam University (SHU) are willing to enter into a Nomination Agreement with the developer of Moore Street. SHU have worked in partnership with student accommodation providers for over 20 years. Nomination Agreements are extremely important to their accommodation portfolio and they are seeking to work with the developer to add this property to their existing agreements. The services that SHU Accommodation Services provide to their nominated partnership schemes are above the sector standards and cover the following: Marketing of the property on SHU s website Open days and the opportunity for larger numbers of prospective customers to view the properties Key: 1. 3 (Derwent Living) 2. Central Quay (Unite) 3. Brocco (IQ) 4. Aspect 3 (Aspect 3) 5. OmniaSpace 6. Velocity Village (Velocity Estates) 7. Portobello Point (OmniaSpace) 8. The Pinnacles (Digs) 9. Steel (IQ) 10. Victoria Halls 11. Devonshire Courtyard 12. West One 13. Study Inn (Study Inn) 14. Exchange Works (Unite) 15. Archways (Unite) 16. Leadmill Point (Unite) 17. Trigon (Derwent Living) 18. Forge 1 & 2 (Unite) 19. Anvil (Unite) 20. Park Student Village (CRM) 21. Watkin Jones (Under Construction) 22. Vita Partnership nomination information and advice Collation of all offer information Sending out all contractual information Processing all acceptance of offers and transfer to site staff SHU start induction will now be included in the cost Re-offers throughout the academic year Residential Support Regular partnership workshops 7
The University of developed from three local institutions: the School of Medicine, Firth College and the Technical School. The School of Medicine, founded 1828 was by far the oldest but the University itself was granted its Royal charter in 1905. The University of is ranked in the top 10% in the UK and is a popular choice amongst students, having 5.6 applications per place The University is a member of the Russell Group and the main teaching buildings stretch into an almost unbroken mile long campus. The University of was named UK University of the Year in the 2011 Times Higher Education Awards and is currently ranked in the top 10%. It was also voted No.1 in the Times Higher Education Student Experience Awards, 2014-15. The University s ambitious estates strategy continues with a campus masterplan published in 2015. Campus additions include the 80 million Diamond building in 2015. In terms of research, more than 60% of of the University s submission to the Research Assessment Exercise was rated as world leading or internationally excellent. Politics and information studies achieved the best results in the country, while town planning, philosophy, Russian, architecture and mechanical engineering were near the top of their field. The University is well subscribed with 5.6 applications per place. In 2013 applications were up by 17% and the projected dropout rate is less than 5%. The university is home to over 5,500 international students. The University is a partner in the Advanced Manufacturing Park in collaboration with Rolls Royce and Boeing. 8
Fitzwilliam Street S1 4JR - Hallam University gained University status in 1992 before which it was known as City Polytechnic since 1969. The University has two campuses; the City Campus and the Collegiate Campus the latter of which is just under a mile outside the city centre in a leafy suburb. The City Campus is located in the heart of, only two minutes walk from the train station. The University claims to have the largest number of students at any University taking courses that include work placements of a year. It is now one of the largest of the new universities, with more than 33,000 full time students. The University is midway through a 95m development plan for its campuses, following heavy investment in buildings and staff over the last 10 years. This has included a new 14m Faculty of Health and Wellbeing in addition to a new social centre and a 6m sports research facility which is one of the largest of its kind in Europe. The University launched the Business School in 2009, bringing together, business, finance, management, and languages, with the institutions specialisms of facilities management, food and nutrition, tourism, hospitality and events management. The University is ranked 73rd in The Times world ranking and is a popular choice amongst students having 5.6 applications per place. The University has over 4,000 international students. 9
Fitzwilliam Street S1 4JR 73,000 sq ft pre-let offices to AEA Technology Plc, Pride Park, Derby 2002. www.littonproperties.co.uk ABOUT LITTON PROPERTY GROUP Proposed Premier Inn 72 bed hotel, Bakewell, Peak District. Litton Property Group was founded in 1995 and has become one of the region s most successful developers having completed numerous developments many of which are retained in the group s investment portfolio. 27,000 sq ft Tesco store, pre-let and investment sold 2014. Litton are experienced developers, specialising particularly in the retail and leisure, regeneration and business use sectors. Concentrating predominantly within Yorkshire and the East Midlands but undertaking projects nationally. Litton Properties work with national companies including Sainsbury s, Tesco, McDonald s and Costa. The group has a diverse portfolio made up of retained developments and also sites acquired for long term redevelopment or asset management. These are managed in house. Litton has invested in high quality software and systems and aim to provide occupiers with high levels of service. Archer Road,. Retail & leisure park developed and retained. It is our aim to continue to deliver high quality developments; to grow and add value to our portfolio; to provide high levels of service to our occupiers and to build on our reputation to become one of the leading developers in our region. STUDENT LED DEVELOPMENT INVESTMENT OPPORTUNITY sheffield CITY CENTRE 10
www.buccleuchproperty.com ABOUT BUCCLEUCH PROPERTY Buccleuch Property is one of the UK s most innovative private property investment and development companies. Well-funded, with strong banking relationships and a respected management team, the company is in a strong position to capitalise on improving conditions in our core commercial and residential markets. 65,000 sq ft pre-let to Scottish Ministers on Shawfair Park, Edinburgh. 150,000 sq ft new HQ for City of York Council within York s original Rail Station (JV with Harrison Developments). Aberdeen Science Parks, 170 acres, Bridge of Don. It is our aim to continue to deliver high quality developments; to grow and add value to our portfolios 11
OVERVIEW Four blocks 789 bed spaces Blocks A, B and C, a mix of 5,6,7 and 8 bed cluster apartments Block D comprised of studios only Four ground floor commercial units Approx 22,721 sq m gross floor area (244,569 sq ft) BLOCK B Our client has had a pre-application meeting with the Local Planning Authority who confirmed that the proposed scale, height and use of the scheme as currently designed would be supported. BLOCK C TYPICAL STUDIO FLAT TYPICAL CLUSTER BEDROOM BLOCK A 6000.0000 5000.0000 BLOCK D 3250.0000 2700.0000 12
Fitzwilliam Street S1 4JR BLOCK A BLOCK B BLOCK C BLOCK D 10 15 floors in height GF communal areas 4,313 sq ft GIA 15 five bed cluster apartments 8 six bed cluster apartments 14 seven bed cluster apartments Approx 6,132 sq m (66,005 sq ft) GIA 8 floors in height Dramatic double height entrance GF retail units of 1,720 sq ft & 1,902 sq ft NIA 8 six bed cluster apartments 14 seven bed cluster apartments 7 eight bed cluster apartments 5 floors in height Respects the scale and materiality of nearby buildings 25 six bed cluster apartments 4 seven bed cluster apartments Approx 5,173 sq m (55,686 sq ft) GIA Total of 178 beds 10 floors in height GF retail units of 1,893 sq ft & 4,228 sq ft GIA Comprised exclusively of studios Approx 5,760 sq m (61,976 sq ft) GIA Total of 188 beds This block could alternatively be let as Private Rented Sector (PRS) accommodation Total of 221 beds Approx 5,466 sq m (58,840 sq ft) GIA Total of 202 beds STUDENT LED DEVELOPMENT INVESTMENT OPPORTUNITY sheffield CITY CENTRE 13
Fitzwilliam Street S1 4JR BLOCK A 10 15 floors in height GF communal areas 4,313 sq ft GIA 15 five bed cluster apartments 8 six bed cluster apartments 14 seven bed cluster apartments Approx 6,132 sq m (66,005 sq ft) GIA Total of 221 beds BLOCK B BLOCK C BLOCK A BLOCK D 14
BLOCK B 8 floors in height Dramatic double height entrance GF retail units of 1,720 sq ft & 1,902 sq ft NIA 8 six bed cluster apartments 14 seven bed cluster apartments 7 eight bed cluster apartments Approx 5,466 sq m (58,840 sq ft) GIA Total of 202 beds BLOCK B 15
BLOCK C BLOCK C 5 floors in height Respects the scale and materiality of nearby buildings 25 six bed cluster apartments 4 seven bed cluster apartments Approx 5,173 sq m (55,686 sq ft) GIA Total of 178 beds 16
BLOCK D 10 floors in height GF retail units of 1,893 sq ft & 4,228 sq ft GIA Comprised exclusively of studios Approx 5,760 sq m (61,976 sq ft) GIA Total of 188 beds This block could alternatively be let as Private Rented Sector (PRS) accommodation BLOCK B BLOCK C BLOCK A BLOCK D 17
HUB 3,715 SQ FT Fitzwilliam Street S1 4JR THE HUB Single point of entry connecting blocks A,B & C Dramatic double height space Provision of desired amenities for all residents The heart of the development Approximately 345 sq m gross floor area (3,715 sq ft) 18
STUDENT LED DEVELOPMENT INVESTMENT OPPORTUNITY SHEFFIELD CITY CENTRE Fitzwilliam Street S1 4JR VAT The property is elected for VAT and VAT will be payable on the purchase price. TENURE The site is Freehold. DATA ROOM A dataroom for further information is available on request. OFFERS We will consider offers to bring forward the proposed development on either a forward fund or forward commit basis. PLANNING & DELIVERY A planning application will be submitted once an agreement is reached with a funder. Delivery is targeted for August 2018. CONTACT For further information please contact: Roger Haworth DD: +44 (0) 114 273 8857 M: +44 (0) 7872 377153 E: roger@cppartners.co.uk Toby Vernon DD: +44 (0) 114 270 9161 M: +44 (0) 7872 377228 E: toby@cppartners.co.uk www.cppartners.co.uk MISREPRESENTATION ACT These particulars do not constitute part of an offer or contract. All descriptions, dimensions, reference to condition and necessary permission for use and occupation and other details contained herein are for general guidance only and prospective purchasers or tenants should not rely on them as statements or representations of fact and must satisfy themselves as to their accuracy. Neither Commercial Property Partners, nor its employees or representatives have any authority to make or give any representation or warranty or enter into any contract in relation to the property. Rents quoted in these particulars may be subject to VAT in addition. The reference to any mechanical or electrical equipment or other facilities at the property shall not constitute a representation (unless otherwise stated) as to its state or condition or that it is capable of fulfilling its intended function and prospective tenants/purchasers should satisfy themselves as to the fitness of such equipment for their requirements. Prices/rents quoted in these particulars may be subject to VAT in addition. a) These particulars were prepared from preliminary plans and specifications before the completion of the properties and are intended only as a guide. They may have been changed during construction and final finishes could vary. Prospective purchasers should not rely on this information but must get their solicitor to check the plans and specifications attached to their contract. b) We have not made any investigations into the existence or otherwise of any issues concerning pollution of land, air or water contamination and the purchaser is responsible for making his own enquiries in this regard. Please contact CPP for the source and date reference. Designed and produced by www.thedesignexchange.co.uk Tel: 01943 604500. January 2016.