-PRESENTING-
THE BEST IN STUDENT HOUSING
CHESTER STUDENT HALLS
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STUDENT HOUSING CHESTER With an ever-growing student population, the historic city of Chester is the perfect location for our next student accommodation development. 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.
The popularity of student accommodation among investors
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occupancy rates of over
90%
Knight Frank Student Property Report 2013-14
Each studio is fully self-contained including en-suite. Students will also have access to a range of communal facilities including a fully equipped gymnasium, laundry, bike storage and entertainment lounge.
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WHY CHOOSE STUDENT ACCOMMODATION?
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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 £2bn. 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 £1.8bn 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 under supply of student accommodation across UK towns and cities has roused new investors to the sector.
We forecast 2014 will see an increased rental growth Knight Frank Student Property Report 2013-14
By choosing to invest in student accommodation in a regional town or city, investors will receive higher than average yields in areas that have a shortage of accommodation, ensuring continual rental demand in a prosperous market.
students the opportunity to live in a high quality student residence, within walking distance of all local facilities and amenities.
The University of Chester has over
12 ,000
students not accommodated by the university The Complete University Guide 2013-14
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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.
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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
Student property continues to outperform other property asset classes Knight Frank Student Property Report 2013-14
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.
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.
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
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INVESTMENT OPPORTUNITY 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.
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Each studio is fully self-contained including en-suite. Students will also have access to a range of communal facilities including a fully equipped gymnasium, laundry, bike storage and entertainment lounge. 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: 8.2% Gross Rent: £7,650.00
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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.
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From its foundation as a Roman fortress 2,000 years ago, Chester 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 all year-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.
The university has over
15,000
overseas students, drawn from over 90 countries worldwide
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.
Chester University Statistics 2013-14
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LOCAL INFORMATION University of Chester 0.9 miles | 15 min walk
Development Location
Chester Train Station 0.8 miles | 15 min walk
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Grosvenor Precinct 0.4 miles | 8 min walk
Chester Racecourse 0.3 miles | 6 min walk
Distance to major UK cities Liverpool , England 22.6 miles | 43 minutes drive Manchester , England 40.6 miles | 59 minutes drive , Wales 151 miles | 3 hours 31 minutes drive London , England 202 miles | 4 hours 14 minutes drive Edinburgh , Scotland 241 miles | 4 hours 18 minutes drive
Distance to major International cities
The University of Chester each year contributes approximately
Paris , France 486 miles Berlin , Germany 885 miles Moscow , Russia 1987 miles Dubai , United Arab Emirates 4,543 miles Beijing , China 5.056 miles
Chester, England
ÂŁ135m to the local economy
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PURCHASE PROCESS Investing through is a quick and easy process, simply;
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• Speak to a 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!
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F.A.Q’S Am I buying as freehold or leasehold? 250 years leasehold
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What is the address of the site? Commonhall Street, Chester, CH1 2AA Are there tenants already in place?
What are the projected annual returns on this project? Returns of 8.2% are assured for the ďŹ rst 2 years Can I receive ďŹ nance on this development?
When is my rental income paid? Quarterly in arrears, direct into your bank account from completion Is there a management company in place? Yes, the designated management company will be Fortis Student Lettings, who will block manage and let the building Can I re-sell my unit? Yes, you can sell at any time after exchange of contract Are there any restrictions if I want to sell? Yes, this is a student development, so the room must be sold as student accommodation
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CHESTER STUDENT HALLS INVESTMENT SUMMARY
8.2 MINIMUM RENTAL ASSURANCE FOR THE FIRST 2 YEARS
Anticipated rent increases of 3% per annum Deductions include all utilities, staff, operators fee, ground rent and sinking fund
SALES PRICE
RENT PER WEEK FOR 51 WEEKS
£69,950.00
£150.00
GROSS RENT
NET YIELD (YR1)
£7,650.00
£5,767.00
YEAR 1
YEAR 2
YEAR 3
YEAR 4
YEAR 5
W E E K LY R E N T
£150.00
£154.50
£159.14
£163.91
£168.83
ANNUAL RENT
£ 7,650.00
£7,879.50
£8,115.89
£8,359.36
£8,610.14
DEDUCTIONS
-
-
£1997.67
£ 2,057.60
£ 2,119.33
NET RENT
£5,767.00
£5,767.00
£6,118.21
£6,301.76
£6,490.81
NET YIELD (%)
8.2%
8.2%
8.7%
9.0%
9.3%
DISCLAIMER & NOTICE: The material contained within this document has been prepared for information purposes only. Information contained herein expressed are subject to change without prior notice. Information contained herein is believed to be correct, but cannot be guaranteed. In case of queries or doubt you should consult an independent investment adviser. No personal recommendation is being made to you and the past is not necessarily a guide to the future. All images used are for illustrative purposes only.
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Third Floor, 20-C Main Khayaban-e-Shahbaz, DHA Phase VI, Karachi, Pakistan. (+9221) 111-LAND-11 | 111-5263-11 (+9221) 35240515 to 19 (+9221) 35240520 realty@landscape.com.pk www.landscape.com.pk/realestate
Disclaimer: All images and information about the development are provided as an indication of the likely style and specification of the development. These specifications are not finalised and may be subject to change.