CHRONICLE HOUSE
+44 (0)161 772 1370 | www.knightknox.com |
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KNIGHT KNOX INTERNATIONAL
A market leader in the UK buy-to-let sector, Knight Knox International has launched 40+ developments onto the UK market, totalling more than 3,700 units at a value in excess of ÂŁ230million.
By forging strong relationships with a select number of developers, we work in partnership with them on their projects and, as such, are able to provide our investors exclusive access to prime developments across the country.
The student property sector has consistently outperformed all other asset classes in the UK market, and industry reports continue to highlight an imbalance between the number of beds available, and the number of students attending Higher Education institutions, particularly in regional cities and towns.
By targeting cities which have high student populations and a lack of purpose-built accommodation, we have developed a portfolio of developments that deliver higherthan-average returns in a market that is set to perform well for years to come.
Knight Knox International has sold over 3,700 units at a value in excess of
ÂŁ230m
+44 (0)161 772 1370 | www.knightknox.com |
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CHRONICLE HOUSE CHESTER
With an ever-growing student population, the historic city of Chester is the perfect location for our next student accommodation development – Chronicle House.
A building formerly owned by The Mirror Group (TMG), the 61-unit development is within walking distance of local shops, restaurants and bars, and is just a 6 minute drive from the University of Chester, making it an ideal student location.
Each studio is fully self-contained including en-suite. Students will also have access to a range of communal facilities including a fullyequipped gymnasium, laundry, bike storage and entertainment lounge.
The popularity of student accommodation among investors is effectively driven by reliable occupancy rates of over
90% Knight Frank Student Property Report 2013-14
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CGI representation of Chronicle House, Chester +44 (0)161 772 1370 | www.knightknox.com |5
STUDENT ACCOMMODATION
We forecast 2014 will see an increased rental growth
A rapidly growing property asset-class in the UK, student accommodation projects are one of the most lucrative forms of investment for any expanding portfolio.
The sector continues to outperform all other traditional investment ventures and for the second year running total investment in to UK student accommodation breached ÂŁ2bn. UCAS figures for 2013/14 indicate that, nationally, university acceptances are at their highest ever levels, leading to a lack of high quality accommodation to meet these figures.
Property adviser CBRE has reported that around ÂŁ1.8bn has been invested in to regional schemes due to the fact that regional locations are more desirable for reasons such as scale, higher yields, greater rental prospects and increasing opportunity. Structural undersupply of student accommodation across UK towns and cities has roused new investors to the sector.
By choosing to invest in student accommodation in a regional town or city, investors will receive higherthan average yields in areas that have a shortage of accommodation, ensuring continual rental demand in a prosperous market.
Chronicle House is a new student accommodation project in Chester, offering students the opportunity to live in a high quality student residence, within walking distance of all local facilities and amenities.
Knight Frank Student Property Report 2013-14
The University of Chester has over
12,000
students not accommodated by the university The Complete University Guide 2013-14
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+44 (0)161 772 1370 | www.knightknox.com |
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THE UNIVERSITY OF CHESTER
With a student satisfaction level of 88%, well above the national average, and rising every year, it is clear that students love the city of Chester. But with almost 15,000 students competing for only 1680 beds, there is a serious lack of accommodation for the growing population.
Over the years student presence in Chester has rapidly increased. In 2000-01 for example, the Chester College of Higher Education reported 6,960 students to the Higher Education Statistics Agency. By 2008-09 this had risen to 13,485, an increase of 94%.
Drawn from over 90 countries all over the world, The University of Chester now has some 15,000 students. Figures released by the University and College Admissions Service (UCAS) showed the University to be the fourth highest university in terms of its growing popularity out of all the UK’s 318 institutions providing higher education.
Only ten minutes away from the city centre, the university is ideally placed for students living in any parts of the city. However, the most sought after locations are within the ancient city walls for students and professionals alike. Chester city centre offers the buzz of a big city, with the friendliness of a small town.
The University of Chester clearly values its high levels of student satisfaction. Investing in a new £2 million Student’s Union in 2007 and more recently a £4.8 million Food Science and Technology Innovation Centre they recognise the student population’s desire for state of the art, modern builds.
With Chester University not even able to offer all first year students accommodation within its own residences, and existing accommodation outdated, the demand for high quality, purpose built student accommodation with great facilities has dramatically risen. Investors should take advantage of these high student numbers as this housing shortage presents an opportunity that shouldn’t be overlooked.
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CGI representation of Chronicle House, Chester
Student property continues to outperform other property asset classes Knight Frank Student Property Report 2013-14
UCAS figures for 2013/14 indicate, that nationally university acceptances are at their highest ever levels, leading to a lack of high quality student accommodation Knight Frank Student Property Report 2013-14
+44 (0)161 772 1370 | www.knightknox.com |
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CGI representation of Chronicle House, Chester
All figures are based on forecasts provided by the developer and are subject to change. Market Leaders inprovided Worldwide Property Investment Any financial information in this document is intended as a guide and does not constitute a contract.
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INVESTMENT OPPORTUNITY
A market leader in the UK buy-to-let sector, over the past 18 months, Knight Knox International has launched 40+ developments onto the UK market, totalling more than 3,700 units at a value in excess of £230million.
By forging strong relationships with a select number of developers, we act as the Master Agent for their projects and, as such, are able to provide our investors exclusive access to prime developments across the country.
Studios: Priced at £64,995 Deluxe Studios: Priced at £74,995 Premium Studios: Priced at £69,995
Financial projection of premium studio (£69,995)*
Weekly Rent: £150.00 Management Fee: £459.00 Maintenance Fee: £1,224.00 NET Income: £5,967.00 NET Yield: 8.52% Gross Rent: £7,650.00
41st
Knight Knox International +44 (0)161 772 1370 | www.knightknox.com | 11 development
Old Dee Bridge, Chester 12 | Market Leaders in Worldwide Property Investment
INVEST IN CHESTER
Located in the North West of England in the county of Cheshire, Chester is one of England’s most beautiful, historic cities.
From its foundation as a Roman fortress 2,000 years ago, Chester has succeeded in preserving its inimitable character whilst offering everything that you would expect from a modern city today, as it becomes a must-visit destination.
The City of Chester can be described as a vivacious blend of shops and cafés, ancient walls, Rows and architectural and archaeological features. Its unique high street is famous for its Tudor fronts and independent boutiques, summing up the old fashioned, quirky charm of the whole city.
The history of Chester is proudly upheld by current residents. The ancient walls encircling the old city boundaries make an interesting and unique tourist attraction, being the most complete in the whole of Britain. As for architecture- the picturesque town hall and a grand cathedral are both steeped in history and certainly worth the visit. Plus Roman remains are prominent throughout the city, including an amphitheatre found just outside the city walls, which make Chester a tourist hotspot as well as a beautiful place to live.
With the city’s popularity thriving, Chester is a hotbed for allyear-round events. There are arts festivals, exhibitions and street entertainment - including the renowned Chester Races and the highly admired Chester Zoo. The city is growing, and as more young professionals and students see its potential and unique energy, it will continue to flourish.
A multitude of bars, pubs, clubs and restaurants further Chester’s vibrant nightlife, not to mention the Students’ Union which has links with clubs in the City centre holding exclusive student nights, with prices to match.
The university has over
15,000
overseas students, drawn from over 90 countries worldwide
+44 (0)161 772 1370 Chester University Statistics 2013-14
| www.knightknox.com |
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LOCATION INFORMATION
University of Chester 0.9 miles | 15 minutes walk
Chester Train Station 0.8 miles | 15 minutes walk
Grosvenor Precinct 0.4 miles | 8 minutes walk
Chester Racecourse 0.3 miles | 6 minutes walk
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Distance to major UK cities Liverpool, England Manchester, England Cardiff, Wales London, England Edinburgh, Scotland
22.6 miles | 43 minutes drive 40.6 miles | 59 minutes drive 151 miles | 3 hours 31 minutes drive 202 miles | 4 hours 14 minutes drive 241 miles | 4 hours 18 minutes drive
Distance to major International cities Paris, France Berlin, Germany Moscow, Russia Dubai, United Arab Emirates Beijing, China
486 miles 885 miles 1987 miles 4,543 miles 5.056 miles
Chester, England
The University of Chester each year contributes approximately
ÂŁ135m to the local economy
+44 (0)161 772 1370 | www.knightknox.com |
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DEVELOPER PROFILE
Setting the standards for student, leisure and residential development throughout the UK!
Fortis Developments Ltd is one of the fastest growing development companies in the UK. The company was created to provide luxury developments, achieving the growing standards in the marketplace.
Firmly established at the forefront of the industry, Fortis Developments is now one of the most experienced and extensive developers of student accommodation, luxury apartments and regeneration schemes in the UK.
We undertake luxury student accommodation and regeneration projects in prime locations at key university sites nationwide. Along with our careful choice of locations, the cornerstones of our success have been a combination of creativity and functionality.
It is our objective to create highly sought after developments in growing markets around the UK.
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+44 (0)161 772 1370 | www.knightknox.com |
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PURCHASE PROCESS
Investing through Knight Knox International is a quick and easy process, simply;
• Speak to a Knight Knox Property Consultant and choose your unit(s)
•
Complete the reservation form and pay the deposit
• Solicitor instructed, legal documents and sales pack sent out
•
50% payable within 21 days (less the reservation fee), upon exchange of contracts *
•
Balance of 50% payable upon completion of your unit
*Contracts need to be exchanged within 21 days of reservation/planning approved
Contact a property consultant today to reserve the best unit!
Tel: +44 (0)161 772 1370 | www.knightknox.com
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FREQUENTLY ASKED QUESTIONS
Am I buying as freehold or leasehold?
What is the address of the site?
Are there tenants already in place?
What are the projected annual returns on this project?
Can I receive finance on this development?
When is my rental income paid?
Is there a management company in place?
Can I re-sell my unit?
Are there any restrictions if I want to sell?
250 years leasehold
Chronicle House, Commonhall Street, Chester, CH1 2AA
No, Chronicle House is a refurbishment of a former office building
Returns of 8.52% are assured for the first 2 years
There is currently no finance offered by the developer
Quarterly in arrears, direct into your bank account from completion
Yes, the designated management company will be Fortis Student Lettings, who will block manage and let the building
Yes, you can sell at any time after exchange of contract
Yes, Chronicle House is a student development, so the room must be sold as student accommodation
CGI representation of Chronicle House, Chester
+44 (0)161 772 1370 | www.knightknox.com |
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The information contained within this document is intended as a general guide. This information does not constitute an offer or a contract and we (or anyone in our company) do not imply, make or give any representation, guarantee or warranty whatsoever relating to the terms contained within. Any intending investor must satisfy themselves as to the correctness of any of the statements, plans or images contained within. Images are for representational purposes only. The content contained within is correct adhering to the previous statement at the time of publishing.
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