All Saints Sunderland
Knight Knox International
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+44 (0)161 772 1370
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knightknox.com
Knight Knox International provides the information contained within this document 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.
Investment
highlights
•
9% assured NET rental returns for the first 2 years
•
Built by an experienced developer in the student accommodation market
•
Refurbishment of an existing halls of residence
•
Comprised of 90 fully-furnished self-contained studios
•
Straight-forward purchase process
•
Completion for May 2014
All
Saints
Formerly a university halls of
ÂŁ50m of investment, students will
residence, All Saints is undergoing
be in an ideal location for both work
an extensive refurbishment to
and play. Nearby transport links
cater for the demands of students
offer fantastic convenience, with
who now desire luxury student
the Stadium of Light Metro Station
accommodation, following the rise in
within a six minute walk, although
tuition fees.
transport may not be needed to reach the city centre which is only a
Split across three blocks, All Saints will
short walk away.
be comprised of 90 fully-furnished, self contained studios, in three price
As student numbers continue to
brackets - standard, deluxe and
swell, with UCAS recently reporting
premium.
that applicants in the UK have risen by 19,000 for this academic year,
An additional two-floor extension
this ideally located development
which will house a private
is certain to attract interest from
gymnasium and communal areas will
investors.
also be provided, in time for practical completion.
All Saints offers investors assured of 9% NET rental returns for the first 2
Located within a ten minute walk
years and experienced developers,
of the newly regenerated Sir Tom
Fortis will be refurbishing the
Cowie Campus at the University of
development, which will be
Sunderland, which has just received
completed by May 2014.
Why Invest
in student accommodation
the UK predicted to rise to 7.6m by the year 2025.
Continuing to outperform all other forms of property investment in the UK; private, boutique student residences are one of the most lucrative ways of
Here at Knight Knox International, we pride ourselves
expanding an investment portfolio, due to the stable
on being considered specialists at selling boutique
yields and low void periods which are common for
student accommodation to the private investor
this type of property.
market, with more than 12 completed, high-yielding developments to our name over the past 24 months
alone.
The demand for high quality student accommodation is showing no signs of abating, as UK university places are still heavily oversubscribed with only 10 places
By focussing on regional university locations like
available for every 14 applicants, placing university-
Sunderland, we are able to offer investors higher-
owned accommodation under an increasing amount
than-average yields in areas that have a severe
of strain, as they struggle to provide the standard of
shortage of private, high-quality residences. All
accommodation required in today’s market place.
Saints is our latest boutique student project, identified as a prime investment opportunity and
This trend for a higher-standard of living is fuelled by
delivered by an experienced developer in the student
the globalisation of the Higher Education market and
accommodation market.
the increase in the number of students applying to UK universities from outside of the UK.
Average yields for regional cities currently stand at 6-6.5% across the country, but by choosing to invest
Students from the European Union and overseas
with Knight Knox International in All Saints, investors
currently account for over a sixth of the UK’s student
can receive 9.% assured NET yields for two years. Fully
population, with the number of non-domiciled
managed and designed completely with students in
students studying at Higher Education institutions in
mind, the project is due for completion in May 2014.
in the sect o r
m o re than
d o uble d to
2.7
billi o n in
2012
‘‘
‘‘
Total capital in v estment
Investment
over view
Purchase Price: Gross Rental Income: Maintenance Fee: Management Fee: Ground Rent: NET Income: NET Yield:
Comprised of 90 en-suite studios, students are within walking distance of the University of Sunderland campuses, in addition to all local facilities and amenities which are essential to students, including shops, bars and restaurants :
£42,500 £5,100 £672 £288 £150 £3,990 9.4%
Standard Studios: Premium Studios: Deluxe studios:
(typical after 2-year rental assurance)
£42,500 £46,500 £53,000
Below is an example of the project’s return-on-investment from the purchase of a Superior Room.
3% Conservative
5% Expected
7% Buoyant
Purchase Price
£42,500
£42,500
£42,500
Annual NET Rental Income Projected Future Asset Value
£3,990
£3,990
£3,990
£49,270
£54,242
£59,609
£69,220
£74,192
£79,559
Projected Total Value (Asset Value + 5Yr Rental Income)
Figures are based on forecasts provided by the developer and are subject to change. Any financial information provided in this document is intended as a guide and does not constitute a contract.
City map
All Saints
Each location stated below is within a 35 minute walk of All Saints
1·
Stadium of Light Metro Station- 6 minutes
2·
Sir Tom Cowie Campus (University of Sunderland) - 9 minutes
3·
Stadium of Light – 13 minutes
4·
Aquatic Centre - 13 minutes
5·
Sunderland City Centre - 20 minutes
6
City Campus (University of Sunderland) - 32 minutes
Distances to major UK cities • Durham (13 miles) - 27 minutes • Newcastle (14 miles) - 29 minutes • Middlesbrough (30 miles) - 42 minutes • Manchester (138 miles) - 2 hours 31 minutes • Birmingham (200 miles) - 3 hours 18 minutes
1 4
All Saints
3
2
5 6
City Living Sunderland
A coastline city which honours its
and Manchester capable of staging
maritime traditions, Sunderland
large-scale West End productions
is a place with picturesque views,
and the Northern Gallery for
idyllically located at the mouth of
Contemporary Arts which holds
the River Wear.
exhibitions from contemporary artists and many special events.
The North Eastern city is one of the largest shipbuilding towns in
Although the city continues
England and refuses to allow its
to invest in its past, this does
proud maritime history to become
not lessen its ability to move
a thing of a past, continuously
with the times, something
developing the coast where
which is demonstrated by the
Sunderland City Council have
fact that Sunderland is one of
committed to invest ÂŁ1.5 million of
the leading cities in the UK for
regeneration, ensuring that future
telecommunications and IT.
generations can continue to be proud of the city’s maritime history.
Scores of blue chip companies including Barclays, Nike, Northern
Sunderland’s magnificent coastline
Rock and Nissan have chosen
also acts as a spectacular launch
Sunderland as their home,
pad for the annual Sunderland
transforming the city into a centre
International Airshow, the largest
of high-end business.
free airshow in Europe which attracts around a million visitors
Home to over 200,000 residents
annually. More cultural delights
and 20,000 students, Sunderland
can be found in Sunderland city
is a city which is proud of its past
centre with attractions such as the
but continues to move quickly yet
Sunderland Empire theatre, the
smoothly into a technology-centre
only venue between Edinburgh
future.
Sunderland
Higher Education
•
A leader in Sports Science, the
non-UK students annually and
university has its own state-
has forged strong links with
the University for safe and easy
of-the-art £12m sports and
exchange partner institutions in
travel between the two main
recreational facility, City Space.
Australia, Canada, Hong Kong,
campuses.
Chosen as the pre-Olympic
USA and throughout Europe.
training provider for the 2012 Olympic Games, the facilities
• •
A free shuttle bus is provided by
Shortlisted for ‘University of
A university which sees
the Year’ in the Times Higher
include six badminton courts,
regeneration as a priority,
Education Awards 2012
a 70-station fitness suite and
Sunderland University has
a sports massage and injuries
invested £130m on both of
centre. The university also has its
its campuses in recent years,
North East’, according to the
own 50m swimming pool and
including £50m on its Sir Tom
Guardian University Guide 2012
95m artificial ski slope.
Cowie Campus, which is within an eight minute walk of All
•
•
An international establishment, the university attracts over 7,000
Saints.
•
‘Best New University in the
• Voted one of the Top 10 Safest Universities in the UK 2012
130 million has been invested in both campuses in previous years
Frequently Asked questions
Is the building built?
What is the projected annual return
Can I resell my unit?
after year 2? Yes. This is currently being
Yes, you can sell at any time after
refurbished to the high standard now
Currently between 8% to 10% NET
exchange of contract. Knight Knox
expected of today’s boutique student
(conservative after running costs,
International has a dedicated resale
accommodation
management fee, service charges
site, ‘studentpodshop.com’ which
and utilities)
offers investors an exit strategy for
Am I buying as Freehold or Leasehold?
Is the sale handled by UK lawyers?
their investment When is my rental income paid?
250 years Leasehold What is the address of the site? All Saints Portobello Lane Sunderland SR6 0DN When will the building be completed? Completion for All Saints is September 2014 Is there a rental assurance? NET rental is assured at 9% for 2 years, from completion of the purchase
Yes, the seller solicitors are Myerson and the recommended solicitors
This is paid quarterly in arrears
for purchasers are Blunt’s and David
direct into your bank account from
Roberts. All three are experienced at
completion
handling student accommodation transactions
Can I do anything I want with my room?
Is there a management company already in place?
No, each room will be leased back to the management company on a
Yes, the designated management
rolling agreement so that the whole
and letting agent will be Fortis
building - in its entirety - can be let as
Student Letting
student accommodation
Are there any restrictions if I want to sell? Yes, the room has to be sold as student accommodation
Purchase
process
• Once your unit(s) has been
this should you require assistance,
time of exchange you will also be
selected with the help of your
as we have a selection of
required to sign and return your
property consultant, please
recommended solicitors who are
contracts. If you are unable to
complete the reservation
experienced in handling student
do this due to your location your
agreement and return along with
accommodation investment
solicitor will be able to act as your
a copy of your passport, recent
transactions.
Power of Attorney. Please note
utility bill and your deposit. The bank transfer details will be found
that your solicitor may charge a •
on the reservation agreement.
Your solicitor will advise you of the paperwork they will require from you. Please return this promptly to
•
fee for this service.
You are required to pay a
•
reduce the risk of delays.
After you have exchanged contracts you will receive
reservation deposit.
a welcome letter from the •
Your first installment payment
developer which will detail the
will be made when you exchange
future service they will provide
has confirmed they have received
contracts. Your solicitor will inform
and include all contact details.
your paperwork, you will need to
you when they have the date for
instruct a solicitor. Your consultant
exchange providing you with an
will be on hand to help you with
adequate notice period, at the
• Once your Property Consultant
•
Your final payment will be due when construction completes.
Reservation form and deposit of 5,000
50% of balance on exchange of contracts within 28 days
Solicitor instructed, legals and sales pack sent out
Remaining balance due on completion of building
We are a long-standing company (a Ltd company since 2004) with an excellent reputation
About
Knight Knox International
We have a large experienced team of over 30 staff, with a collective property experience of more than 200 years We have exclusive market-leading products that are hand-picked proven investments that sell in volume We cater to all types of clients, from firsttime buyers to large investors, helping build property portfolios and establishing good income returns
We sell property in over 50 countries worldwide and have local expertise on the ground in every location Most of all, our clients buy with us again and again because we are honest, experienced, professional and market the best opportunities
Testimonlas
We have a global partner network of overseas agents and on-the-ground specialists
‘
Mr and Mrs Lowe, Hong Kong
‘
We are one of very few companies to experience ‘full market cycles’
“My husband and I have bought many properties now through Knight Knox International . . . We have a decent portfolio and will no doubt buy more properties with them over the coming years!”
“It is very refreshing to find a company who keep you informed when they say they will. They know where my interests lie and have always made me aware of opportunities that suit my investment needs” Mr G. Brown, UK
The
developer
Setting the standards for student, leisure and residential
university sites nationwide. Along with our careful
development throughout the UK! Fortis Developments
choice of locations, the cornerstones of our success
Ltd is one of the fastest growing development
have been a combination of creativity and functionality.
companies in the UK. The company was created to provide bespoke accommodation to meet the growing
We create highly sought after developments which
demands for this type of product.
feature all the facilities – individual and communal – required by today’s fast growing student population.
Firmly established at the forefront of the industry, Fortis Developments Ltd 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
MEREBANK COURT
ST ANDREW’S COURT SOLD OUT
CURRENT DEVELOPMENT
Merebank Court is a 14-storey development
122 luxurious studios designed with
in an enviable location in Liverpool. A
students in mind, including an extensive
complete refurbishment of an existing
range of communal facilities.
residential building, Merebank is comprised of 58 apartments which are, in the main,
Indicative of the rising wave of boutique
divided into three-bed, two-bath flats, with
student accommodation in Glasgow,
roadside parking available for residents.
St. Andrew’s Court stands far above its counterparts due to the superior standard
Completion date: Q1 2014
of living it will provide for students studying at any one of Glasgow’s prestigious universities
Completion date: Q3 2013
Market Leaders in Worldwide Property Investment Knight Knox International +44 (0)161 772 1370 knightknox.com