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DEVELOPMENT LAUNCHED BY FORTIS DEVELOPMENTS
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In collaboration with Fortis Developments, Knight Knox International is proud to present its latest luxury student accommodation project: Avalon Court The development, worth approximately £6.5million, is a comprehensive conversion of former offices. Comprising a total of 98 standard, premium, deluxe and superior studios, each apartment comes furnished with its own fully-equipped, gloss finished kitchenand bathroom.
The facilities available at Avalon Court are sure to offer a competitive advantage over similar developments in the area, as it offers an on-site gymnasium, a private cinema room, a designer entertainment lounge and laundry facilities together with a bicycle storage room. The development is situated in the heart of Nottingham, one of the UK’s most thriving student cities. Due to its exquisite location, students will have easy access to both of the city’s universities, in addition to the
city centre, with all its shopping amenities, charming restaurants and trendy bars. Avalon Court presents itself as a remarkable investment opportunity for savvy investors. A fifth of Nottingham’s entire population is made up of its student body, consisting of both domestic and, to a large extent, international students. The development, set to be completed in August 2015, fulfils the ever-growing demand of the modern student for luxury student accommodation.
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THE STUDENT MARKET
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MORE PURPOSE BUILT STUDENT ACCOMMODATION IS NEEDED IN NOTTINGHAM TO HELP CUT THE NUMBER OF STUDENTS IN RESIDENTIAL AREAS BBC, 2014
With total investment figures topping £2.5 billion in 2013, the student property market, as suggested by Savills, has become an established property investment class, rather similar to the commercial property market. It is considered to be a highly yield driven investment. In fact, student accommodation has proven to be one of the most robust and stable investments around, as even during the financial crisis, it managed to produce a stable yield growth on average of 9.95% according to the CBRE Student Accommodation Index.
The Financial Times classified student accommodation as the “top property asset” in 2012.
The 2011 Census revealed that the number of full-time student households across England and Wales were as high as 132,000, housing over 500,000 people. An Industrial Report of UK Construction by Mintel 2014 pointed out that higher education is a major driver of UK construction activities, especially through private investment, as it is a potential source of non-public sector capital. Although enrollments continue to be high, the student property market is still largely undersupplied. An increasing number of first years and returning students encounter major difficulties in their search for accommodation, to the extent that some universities have to place two or more people into one single room. At the
” same time, universities have dramatically increased their tuition fees, resulting in a British average of approximately £9,000 per year. This has led to students becoming more conscious of what their money can get them. In addition to the fact that the current student property market is undersupplied, today’s students desire a much higher quality of accommodation than ever before. This has created a vast and promising opportunity to invest in the development of new student accommodation in the UK with an assured high rental yield.
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NOTTINGHAM An extremely well connected city, Nottingham is accessible by rail, tram, bus and air. Nottingham’s transport system has recently undergone an extensive revamp to make it one of the most efficient in the country. Its system was modernised at a cost of £200 million to establish the Nottingham Express Transit, and the main train station is undergoing a £50m transformation to improve its appearance, making transport seamless for the city’s residents. However, this system does not just benefit local residents—Nottingham is a hotbed for tourism, with many tourists using the transport system to visit Nottingham’s many famous landmarks. The tourism
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industry in Nottingham is pivotal to the city’s lifeblood, contributing around £139m annually to the local economy. Most notably, Nottingham has recently been voted as having the best student night out in the UK, a result of a booming nightlife found in any one of the 400 clubs, pubs and café bars that line the city. This thriving scene helps make Nottingham an extremely popular destination for students. There are over 60,000 students in Nottingham studying at the historic city’s two universities, The University of Nottingham and Nottingham Trent University.
Unfortunately, this burgeoning population of students far outnumbers the limited amount of student beds available in the city. Currently, 78.9% of students are not housed by their universities, meaning many Nottingham students are forced to reside in HMOs which are desperately needed for family housing. This pressing issue for additional beds has recently been raised by Graham Chapman, the deputy leader of the council; in an article on the BBC he claimed that the number of students taking up family homes and living in residential areas is causing ‘enormous pressure’ on the city.
Nottingham location information: This pressure has led to repeated calls from the council for private developers to provide bespoke housing as part of the authority’s new plan to move students out of residential areas into purposely built student accommodation. In line with this call, we are proud to announce the launch of Avalon Court in response to the urgent need for more purpose-built student accommodation in Nottingham.
Capital FM Arena 0.5 miles
Victoria Shopping Centre 0.1 miles
University of Nottingham 0.9 miles
Nottingham Trent University 0.4 miles
Nottingham Train Station 1.1 miles
Nottingham Cathedral 0.5 miles
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A market leader in the UK buy-to-let sector, Knight Knox International has launched 50+ developments onto the UK market, totalling more than 4,500 units at a value in excess of ÂŁ360million. 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 out performed 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 purposebuilt accommodation, we have developed a portfolio of developments that deliver higher than average returns in a market that is set to perform well for years to come. www.knightknox.com
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I have just completed my third purchase with Knight Knox and I am once again impressed by the clarity of information, post-sales service and continuous support received. Mr K. Elahi, Qatar, Knight Knox International Investor
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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.
www.fortisdevelopments.com
9. Devonshire House | Birmingham Sold Out & In Construction!
2. Bard House | Nottingham Sold Out & Tenanted!
10. Robert Owen House | Glasgow Sold Out & In Construction!
3. Minervae House | Nottingham Sold Out & In Construction!
11. Burgess House | Newcastle Sold Out & In Construction!
4. St Andrew’s Court | Glasgow Sold Out & Tenanted!
12. Chronicle House | Chester 70% Sold Out & In Construction!
5. Central House | Glasgow Sold Out & Tenanted!
13. Sovereign House | Sheffield 70% Sold Out & In Construction!
6. Merebank Court | Liverpool Sold Out & Tenanted!
14. New Bank House | Sheffield New Launch!
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15. East Point | Leeds 70% Sold Out!
8. Rede House | Middlesbrough Sold Out & Tenanted!
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It is our objective to create highly sought after developments in growing markets around the UK.
1. Dunn House | Sunderland Sold Out & Tenanted!
All Saints | Sunderland Sold Out & Tenanted!
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INVESTMENT SCENARIO Following on from the success of previous student accommodation developments, including Bard House – Nottingham, St. Andrew’s Court - Glasgow and Rede House – Middlesbrough, Knight Knox International and Fortis Developments are delighted to introduce Avalon Court. Located in the heart of Nottingham, in the centre of a highly popular student rental area, Avalon Court will comprise 98 studios configured in four different styles.
Investment options for this development are: Standard Studios from £59,995 Superior Studios from £64,995 Premium Studios from £64,995 Deluxe Studios from £69,995
All studios are fully furnished and are anticipated to be ready for the September 2015 academic year
Example projection of a Premium Studio: Est. Est. Est. Est. Est. Est.
weekly rent: annual rent: maintenance fee: management fee: NET income: NET yield:
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£140 £7,140 £1,285.20 £428.40 £5,426.40 £8.35%
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* All figures are based on forecasts provided by the developer, are indicative only and are subject to change. Any financial information provided in this document is intended as a guide and does not constitute a contract.
Entrance
Bedroom Area
Kitchen Area
Example of Premium Studio
Bathroom
Unit G-05 24.2m2
* All plans and specifications are based on concepts provided by the developer, are indicative only and are subject to change.
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FAQ’S
Am I buying as freehold or leasehold?
Is there a management company in place?
250 years leasehold What is the address of the site?
Yes, the designated management company will be Fortis Student Lettings, who will block manage and let the building
Avalon Court, Kent St, Nottingham, NG1 3LZ
Can I receive finance on this development?
Are there tenants already in place? No, Avalon Court is a new-build development which will be furnished to the highest of standards and will be ready to accept residents from September 2015
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There is currently no finance offered by the developer When is my rental income paid? Quarterly in arrears, direct into your bank account from completion
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Nottingham city council are actively encouraging private developers to provide bespoke housing, to accommodate the influx of students
Are there any restrictions if I want to sell? No, you are free to sell your apartment on the open market What are the projected annual returns on this project? Returns of circa 8.3% are assured for the first 2 years
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Investment 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% of the balance is payable upon exchange of contracts Balance of 50% payable upon completion of your unit
Contact a property consultant today to reserve the best unit!
Tel: +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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