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The UK’s number 1 student property brand
Telephone House
SHEFFIELD
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TELEPHONE HOUSE Contents 03
Why Vita Student
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Vita Student Sheffield
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Vita Student at Telephone House
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Vita Living at Telephone House
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Vita Community at Telephone House
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The investment
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The team
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Telephone House
Vita Student at Telephone House, Sheffield
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The best student property in the UK Vita Student is a premium brand; the first of its kind dedicated to designing, developing and delivering the finest student residences in the UK. For the student, Vita Student represents accommodation of the highest quality with state-of-the-art facilities and services, and a city centre living experience like no other. For the investor, Vita Student offers a hasslefree, fully-managed property investment with assured returns within the UK’s most soughtafter student developments.
Vita Student developments are specifically designed to cater for the growing number of students in the UK who are demanding higher standards in living accommodation.
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Vita Student at Telephone House, Sheffield.
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Why Vita Student ? Vita Student is the first to offer individuals the chance to purchase premium student property with a level of quality not seen before at a competitive price. With the demand for high-end student accommodation considerably outweighing supply, this makes for an exciting property investment opportunity.
Recognising the shift in the higher education market, Vita Student and its award-winning team is pioneering the change in student property in locations across the UK by creating exceptional student residences of the highest standard complete with first class facilities, unlike anything that has gone before. The UK student property market is thriving. Driven by structural undersupply and increasing rental rates, student property has outperformed all other property asset classes in the UK every year since 2011 and this trend is forecast to continue. The sector has also witnessed a shift away from traditional shared housing, with students willing to pay significantly more for high specification purpose-built accommodation (Knight Frank Student Property 2014). With its developments designed specifically to cater for the growing number of students in the UK who are demanding higher standards in living accommodation, Vita Student is ensuring its place at the top of this growing market.
International Students A major driving force behind the demand for high-end purpose-built property is the increasing number of international students in the UK. The UK is the world’s second largest host country to overseas students. Attracted by the combination of comparatively affordable tuition fees and a world-leading standard of education, the UK already educates close to half a million international students, a number which is predicted by the UK government to grow by between 15% and 20% over the next five years. With higher budgets for housing and the requirement to feel safe and comfortable in a foreign country, international students have created heightened demand for high-quality, fully self-contained, purpose-built student accommodation in city centre locations close to their institution of study. In spite of this, most projects provide a more standard level of specification, leaving a gap in the market for true high-end student property. Vita Student is the first student accommodation brand to cater especially for this rapidly growing, higher-end of the market and, in turn, create a compelling opportunity for investors.
Vita Student at Telephone House, Sheffield.
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What sets Vita Student apart
All Vita Student properties are completed to an unrivalled level of specification, equal to that of a four-star hotel.
In addition, compared to standard student accommodation with shared living areas and cooking facilities, Vita Student properties are larger and completely self-contained, fitted with bespoke kitchens and en-suite shower rooms. Designed especially with international students in mind, Vita Student developments are located in close proximity to places of study, and are home to large communal areas and unprecedented support services and facilities.
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Vita Student at Telephone House, Sheffield
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Vita Student UK locations Vita Student at Telephone House, Sheffield is the brand’s eighth launch following the sell-out success of its first seven developments in Liverpool, Manchester, Bristol, Exeter and Southampton comprising of more than 1,000 properties.
In order to select the best locations for its projects, Vita Student pinpoints university cities where there is an identified demand for premium student property to ensure high occupancy rates and maximised investor returns. Vita Student developments can currently be found in the cities of Liverpool, Manchester, Bristol, Exeter and Southampton; representing more than a 1,000 properties which are completely sold out. Vita Student at The Chapel in Liverpool was the first to open its doors to students in 2013 and is 100% occupied.
SOLD OUT
SOLD OUT The Chapel, Liverpool 67 apartments
First Street, Manchester 279 apartments
SOLD OUT Crosshall, Liverpool 158 apartments
Richmond House, Southampton 211 apartments
SOLD OUT Colston Avenue, Bristol 132 apartments
SOLD OUT Tinlings, Liverpool 132 apartments
SOLD OUT
Telephone House, Sheffield 352 apartments
SOLD OUT Portland House, Exeter 156 apartments
University of Birmingham University of Bristol
Russell Group university locations
University of Cambridge Cardiff University Durham University
Vita Student’s current locations Vita Student’s locations 2014 -2015
University of Edinburgh University of Exeter University of Glasgow Imperial College London King's College London University of Leeds University of Liverpool London School of Economics & Political Science University of Manchester Newcastle University University of Nottingham University of Oxford Queen Mary, University of London Queen's University Belfast University of Sheffield University of Sheffield University College London University of Warwick University of York
Vita Student at Telephone House, Sheffield
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Vita Student in Sheffield Recognised as having significant investment potential by leading property consultants Savills and Knight Frank, the city plays host to two prestigious universities and a large number of students.
This population has flourished in recent years, as has the number of international students which has grown 30% in just five years to 11,000. These factors alone demonstrate how strong the proposition is for student property investment in Sheffield, especially when you consider that 45,000 students don’t have access to any purposebuilt accommodation and there are no luxury options in the city at all.
Sheffield’s Student Property Market Given the size of its student population, it’s no surprise that Sheffield’s student property sector is relatively well-established compared with other cities in the UK. The need for purposebuilt accommodation has long been apparent meaning that many of the country’s student property providers have developed private halls in the city. As a result, a fairly competitive marketplace has emerged over the last decade.
Home to 2 major universities and over 63,000 students
A leading university city Home to over 63,000 students and two established universities, Sheffield is undoubtedly one of the country’s most notable university cities with it becoming a magnet for students and a centre for education. The University of Sheffield is a member of the elite Russell Group and was named UK University of the Year in 2011, while Sheffield Hallam University is the 3rd most populated university in the UK. Both of these respected institutions have received significant investment in recent years with more than £100 million spent on each to improve the facilities and services.
However, while Sheffield is at the forefront of the market in terms of providing private student halls, there has been a failure to develop luxury options for students who want first-rate facilities. This means that there is an ideal opportunity for an experienced developer to provide this style of accommodation, and for investors to take advantage of this previously untapped area of the market.
This has resulted in the city experiencing a considerable growth in student numbers, especially from overseas, and today there are more than seven applications per available place. International student numbers have also increased by 30% in the last five years.
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Vita Student at Telephone House, Sheffield
The number of international students in Sheffield has grown by 30% in just 5 years
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An attractive investment opportunity With no other accommodation in Sheffield offering the same level of quality and prestige, a huge undersupply of purpose-built property especially in the city centre and growing domestic and international student numbers, investors in Vita Student at Telephone House can expect extremely high demand and maximum occupancy levels.
Sheffield Fast Facts Sheffield is just 1 hour and 45 minutes from London by train. Excellent transport links by road, rail, and air. Sheffield has two universities: Sheffield Hallam University and the University of Sheffield. The two combined bring over 60,000 students to the city each year. Sheffield is a city and metropolitan borough of South Yorkshire. 61% of Sheffield is green space, and a third of the city lies within the Peak District National Park. Sheffield is home to large shopping centres, art galleries, museums, music venues and an array of restaurants, bars and clubs. Sheffield has a long sporting heritage, with: two football teams: Sheffield Wednesday and Sheffield United, an ice hockey team: The Sheffield Steelers, and Sheffield also hosts the World Snooker Championships each year at The Crucible. There are two large theatres, the Lyceum Theatre and the Crucible Theatre, and together with the small Studio Theatre make up the largest theatre complex outside London.
Vita Student at Telephone House, Sheffield
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The University of Sheffield campus
Sheffield Hallam University campus
Sheffield A first class location
Sheffield is home to more than 52,000 domestic students and 11,000 international students across two prestigious universities. 45,000 of Sheffield’s student population doesn’t have access to purpose-built student property and the rapidly growing demand for luxury accommodation has brought to light the city’s lack of stock. Vita Student at Telephone House is situated directly in-between both Sheffield Hallam and the University of Sheffield, and is a five minutes’ walk from both institutions. It is this prime location which makes it so attractive for investors and students alike. No other student property in the city is available this close to both universities, with most others situated on the outskirts of town. It is for this reason that the location of Vita Student at Telephone House is perfect for investors as it will ensure the development is popular with students.
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Vita Student at Telephone House, Sheffield
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Vita Student at Telephone House, Wellington Street.
Main university campus
Main retail district
Main bus station
Main train station
10 minute walking radius
Sheffield University
Sheffield Hallam University
Vita Student at Telephone House, Sheffield
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TELEPH 10
Vita Student at Telephone House, Sheffield
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HONE HOUSE Vita Student at Telephone House, Sheffield
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Telephone House Vita Student is proud to introduce its latest £35m development in Sheffield city centre.
A prominent figure on the Sheffield skyline, Telephone House, formerly a 1960’s office building, will be transformed to create magnificent Vita Student residences tailormade to meet the high demands of its tenants. Designed to become Sheffield’s number one address for student living, Telephone House realises Vita’s vision and raises the bar of luxury student accommodation in another of the UK’s top university cities.
Luxury studios with 7% net minimum rental return assured for 5 years
From £100,000
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Vita Student at Telephone House, Sheffield
Telephone House enjoys a fantastic central location, sat between the two main universities, transport links and all the best sights and sounds of the city – perfect for Vita Student residents.
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Vita Student at Telephone House, Sheffield
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The studios in Telephone House have been designed to maximise the space within the living area.
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Vita Student at Telephone House, Sheffield
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Vita Student at Telephone House, Sheffield
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Vita Living at Telephone House
Designed with the student in mind, while maintaining the style and finish of a luxury hotel, Vita Student at Telephone House is home to 15 floors of individual studios, each offering the highest standard of student living.
Generous in size, each studio is completely self-contained, with its own quality fitted kitchen and designer en-suite shower room offering residents much sought-after privacy and their own sanctuary within a city centre development. With no compromise on the quality of materials used, the interiors have been stylishly designed with meticulous attention to detail. Sophisticated finishing touches offer all the luxury and comfort expected of a premier development.
Safe, secure and fully managed.
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Vita Student at Telephone House, Sheffield
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Standard Specification Each self-contained studio is fully furnished and completed to the highest specification, comprising: • Kitchen featuring lacquered cabinetry, solid surface worktop with sink and fully integrated appliances including fridge, combination microwave oven, electric hob and extractor hood.
Fitted Kitchen/Dining Study Area
• En-suite shower room with boutique styling including porcelain tiles and designer fittings. • Space-maximising folding bed system with integrated sofa.
Folding Bed System
• High-quality durable furniture including workstation with adjustable task chair, wardrobe units, bookcase, dining table and chairs. • Floor-to-ceiling black out curtains. • Free high speed 100MB broadband. • Wall-hung flat screen smart TV.
Smart TV
Bedroom / Lounge Area
Shelving
Wardrobe
• Secure entrance door with swipe card access.
Wardrobe
En-suite Shower Shower
Entrance
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Vita Community at Telephone House
Housed on the lower floors of Telephone House is the Vita Student Hub – a state-of-the-art communal area set to become a thriving hub of Vita Student residents and the heartbeat of the building.
Carefully masterplanned to ensure no aspect of the student living experience is overlooked, the Vita Student Hub sets Telephone House even further apart from other student property in Sheffield. Here, a collection of communal zones come together to create a contemporary and exciting environment designed to play host to the vibrant Vita Student community. As well as providing a focal point for residents outside their studios to meet and relax in its welcoming lounge area, the communal zone includes entertainment spaces housing pool tables and gaming stations alongside the building’s very own gym featuring state-ofthe-art equipment. The space also offers an alternative place for study from quieter areas to group study spaces to encourage collaborative learning.
Spaces to Inspire and Engage
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Facilities in summary Vita Student residents will have access to a full suite of cutting-edge facilities and services including: • • • • • • • • • • • •
24-hour security Hotel style lobby with 24-hour reception Internet stations Spacious lounge area with LCD TVs Quiet and group study spaces Fully equipped state-of-the-art gymnasium Pool table area Gaming stations Laundry room Vending bar Communal recycling area Bicycle storage
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The Investment Telephone House, Sheffield.
With prices starting at £100,000, Vita Student at Telephone House offers buyers a fully managed investment with a minimum rental return of 7% net for five years. How the scheme works for you
Vita Student at Telephone House Payment Plan
Vita Student at Telephone House is a fully managed investment allowing owners to enjoy all the benefits of a secure UK property investment with none of the hassle associated with managing the property or finding tenants.
£5,000 25% 25% Balance
Deposit Exchange of contracts March 2015 On Completion
How your yield is calculated Vita Student Management will take care of the complete running of Telephone House – from marketing the properties to secure student tenants right through to dealing with service providers and general building maintenance. When it comes to the running costs of the building, Vita Student Management operates an open-book policy to show property owners how their net rental yield is arrived at. Owners are assured a minimum rental return of 7% net for five years that will be paid in quarterly instalments, starting in December 2015. Additional net rental income achieved during these first five years will be paid to owners at the end of the five-year assured rental period.
Estimate based on an example property price of £83,748 Management costs* (shared) including service charge:** £1,543 Ground rent: £495 Total Expenses: £2,038 Weekly rent (example): Number of Weeks: Gross Annual Income:
£155 51 £7,905
Net Annual Income: Net Yield:
£5,867 7.01%***
*General costs include all staff, maintenance and operational running costs, as well as the management company's fee. **Service charge is the individual contribution towards managing the estate and keeping the building structure and common amenities in a good state of repair, paid annually by all owners towards under their lease. ***Any net rental income above the 7% assured yield in the first five years will be attributed and paid at the end of the five-year assured rental period.
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Vita Student at Telephone House, Sheffield
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The Investment Telephone House, Sheffield.
An illustration of the projected return on investment (ROI) over five years based on an example property price of £89,950 The net rental income above the 7% assured yield in years 1-5 is attributed and paid at the end of Year 5, and annually thereafter Year 1 (7% assured rental) 2 (7% assured rental) 3 (7% assured rental) 4 (7% assured rental) 5 (7% assured rental) 6 7
6% capital growth £89,950 £95,347 £101,068 £107,132 £113,560 £120,373 £127,596
7% net rental return £6,297 £6,297 £6,297 £6,297 £6,297 £6,297 £6,297
Total Returns
£37,646
£44,079
Investment timeline Now Reservation completed and £5,000 deposit paid. Solicitors instructed and contracts issued. First instalment of 25% due. Exchange of contracts. March 2014 Construction of Vita Student at Telephone House commences. Vita Student Management commences active marketing campaign to secure tenants for academic year 2015/16. March 2015 Second instalment of 25% due September 2015 Completion of Vita Student at Telephone House Lease granted. Five-year leaseback commences. Academic year begins and tenants move in. January 2016 First instalment of assured rental return is paid
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The Team Vita Student is a luxury student accommodation brand created by Select Property Group, an international property investment and development company.
Angus Monro Chairman With a career spanning over 40 years in corporate, commercial and retail positions, Angus Monro, the former Chief Executive of Instore and Matalan, has a wealth of strategic experience to support Select Property’s plans for significant growth. Angus is a well-known figure in the retail sector, having worked with some of the UK’s major retail corporations, including Marks & Spencer, Dorothy Perkins, B&Q and Woolworths. He is widely regarded as one of the UK’s most experienced retailers and has been involved with Select Property since 2010. As well as his role as Chairman of Select Property, he is a Non-Executive Director of online retailer The Hut Group and Chairman of Vita Ventures.
Mark Stott Chief Executive Officer
Chris Oakes Chief Development Officer
On leaving school at 18, Mark dived straight into commerce, launching his first business at 20 and then establishing Select Property in 2004.
Chris is the founder of Huntsmere, one of the UK’s leading luxury residential developers, with a track record for designing and building some of the finest properties in the most sought after locations in the north-west of England.
As CEO and founder, Mark has successfully led the company to become one of the most successful overseas property investment specialists in Europe. With a clear vision, he was able to steer the company through the financial crisis and then successfully position it at the forefront of the market.
Since Huntsmere Limited was launched in 2003, the company has grown rapidly and will deliver ten large residences with a combined value of nearly £50 million in 2015.
His pioneering approach, which firmly puts the customer and employees at the heart of the business, has led to him being recognised as a prominent entrepreneur in the UK and Select Property being named in the top ten of The Sunday Times Best Companies to Work For in 2009.
Vita Student Management Gavin Duncan Managing Director, Vita Student Management Gavin is responsible for the operation and management of all the schemes in the UK. This includes ensuring all the developments are fully occupied and residents are provided with a first class level of service. Gavin was appointed as Managing Director of Vita Student Management following his 13-year tenure at Opal Property Group, one of the UK’s largest student accommodation providers. As Director and Head of Operations, Gavin was responsible for the overall operation of the Opal Group, delivering high-quality accommodation across Opal's 20,000 student
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Trevor Moore Chief Operating Officer
Mark Oakes Operations Director
Mick Slater Chief Financial Officer
As COO, Trevor is responsible for developing and implementing the company’s commercial and operational priorities and driving its growth. He is an experienced board director having spent 20 years in a mixture of privately-owned, private equity-owned and PLC businesses. Trevor has worked with a number of leading consumer-facing brands including Whitbread, Coffee Republic and Phones4U among others.
As Operations Director, Mark brings the operational strength to ensure Select Property delivers its objectives via the implementation of industry-leading processes and systems.
Michael joined Select Property in 2014 and has overall responsibility for the finance and accounting matters of the company.
In 2009, Trevor was appointed as CEO of Jessops plc and restructured the finances and operations to restore the business to profit over a three-year period. In 2013, he became CEO of HMV, working with a syndicate of eight banks and performing a strategic review that determined the future of the business.
Mark has enjoyed a successful career in both operation and IT leadership positions at companies including BskyB, Barclays and Phones4U. Prior to joining Select Property, Mark spent three years as the Group Head of IT for William Hill Group plc. the UK’s leading gambling and gaming company.
He is a chartered accountant and recent positions include European Finance Director at Gen-Probe and Group Finance Director of AIM-listed Tepnel Life Sciences during a period of high organic and acquisitive growth, which culminated in a successful trade sale exit. Prior to this he was a Senior Manager with KPMG, responsible for assurance, advisory and transaction services projects for a wide range of listed and private companies.
beds working closely with several of the UK’s Higher Education Institutions. Gavin is also an Independent Director of UNIPOL Student Homes advising on the organisation’s overall strategy and policy, enabling him to ensure Vita Student is leading the way in the service and facilities that it provides.
Vita Student Management Management Company and Rental Provider Vita Student has its own management company to maintain control over the delivery of the brand’s exceptional lifestyle experience across all touch points. By capitalising on the expertise of its Managing Director, Gavin Duncan, and combining with effective marketing strategies and industry leading processes and systems, Vita Student can ensure it provides the very best accommodation service, leading to maximum occupancy rates and investor returns.
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Manchester UK The Box Horseshoe Lane Alderley Edge Cheshire SK9 7QP T + 44 (0)161 322 2222
London UK 8th Floor Berger House 36-38 Berkeley Square Mayfair London W1J 5AJ T + 44 (0) 207 123 4000
Dubai UAE Office 2701 Marina Plaza Building Dubai Marina United Arab Emirates T + 971 4446 2756
Please note that the information that we distribute is produced with great care and believed to be correct at the time of printing to the best of our knowledge. Pictures, layouts and other details in this brochure are given as a general guide and may change from time to time in accordance with the final designs of the development and appropriate planning permissions. We endeavour to ensure that any market forecasts we provide are accurate and well researched at all times, however we cannot ultimately warrant the accuracy of that information and cannot be held liable for any reliance you may make of or put on it except as specifically agreed with us in any further agreement we may make with you in writing.
The UK’s number 1 student property brand
www.vitastudent.com