STUDENT INVESTMENT OPPORTUNITY

ALEXANDER HOUSE, 112 REGENT ROAD LEICESTER, LE1 7LT

STUDENT INVESTMENT OPPORTUNITY | ALEXANDER HOUSE – 112 REGENT ROAD, LEICESTER

LOCATION

Alexander House is situated on Regent Street, overlooking Regent’s College. The property is immediately adjacent to the University of Leicester, being a one minute walk to University Road. It is also a 5 - 10 minute walk to Leicester Railway Station located the north and provides direct links with London St Pancras and Nottingham.

The immediate area surrounding the property comprises predominantly University of Leicester buildings.

The property is within 800m of Leicester City Centre which offers a diversity of shops, including the Highcross Shopping Centre, together with a good selection of restaurants and bars.

STUDENT INVESTMENT OPPORTUNITY

A recently refurbished student HMO situated adjacent to the University of Leicester Campus and a 10 minute walk to De Montfort University.

> Freehold, direct let student block

> 36 en-suite bedrooms (34 beds in five clusters and two studio flats)

> 100% occupancy since conversion to student accommodation in 2011

> Rent passing of £210,478

> 80% reserved for 2015/2016 academic year

> Article 4 Directives implemented in surrounding area which limits future supply of student properties

> c.17,500 full time students are unable to access university or private sector purpose-built accommodation in Leicester

STUDENT INVESTMENT OPPORTUNITY | ALEXANDER HOUSE – 112 REGENT ROAD, LEICESTER

SPECIFICATION

> Entirely refurbished in 2011

> Kitchens equipped with two ovens, two full height fridges and microwaves

> Bedrooms are all en-suite and furbished with a double or three-quarter bed, desk and wardrobe

> 50 mB Broadband internet

> Secure bike storage to rear of the property

> On site laundry facilities

> CCTV system covering property internally and externally

INCOME

The block has been 100% occupied since conversion in 2011. Gross rent passing for 2014/15 is £210,478. Rent passing for 2013/14 was £201,363 also reflecting 100% occupancy.

There is an opportunity to improve future operating efficiency following significant capital expenditure over the past two financial years.

The gross income is forecast to increase for the 2015/16 academic year. 27 bedrooms and two studios are currently reserved for the coming academic year. The rooms let on 43 week tenancies are also available to let over the summer period. The ERV is outlined in the table below.

2015-2016 Asking Rents

Unit Type

No. of

units

ERV £pw

43 week term rate

/ unit

51 week rate /

unit

43 week term total

51 week total

Studio 1 1 £ 160 £6,880 £8,160 £6,880 £8,160

Studio 2 1 £150 £6,450 £7,650 £6,450 £7,650

Clusters

Small Double

11 £108 £4,644 £5,508 £51,084 £60,588

Small Double deluxe

4 £115 £4,945 £5,865 £19,780 £23,460

Double 15 £120 £5,160 £6,120 £ 77,400 £91,800

Large Double

4 £128 £5,504 £6,528 £22,016 £26,112

Car Parking

4 £15 £645 £765 £2,580 £3,060

Garage 1 £192 - £ 10,000 £10,000* £10,000

ERV Range for 2015/2016

£186,190 £230,830

LEICESTER STUDENT MARKET STATISTICS

University Total Full-time International TimesUniversity Ranking 2015

Applicants Per Place

University of Leicester

16,750 13,570 (81%)

4,805 (29%) 20th 6.4

De Montfort University

19,645 15,595 (79%)

2,510 (13%) 54th 4.7

Total no. of students

36,385 29,065 (80%)

7,315 (20%)

Only 41% of University owned accommodation is located adjacent to the University of Leicester Campus, with 39% located nearly 4 miles from Campus. This creates high demand for extremely well located accommodation such as Alexander House.

DESCRIPTION

A detached Victorian property providing student accommodation across three floors. Two clusters can be accessed from the main entrance and a further two via a side gate. Each cluster contains 6-8 bedrooms which share a communal kitchen and living space. There are 4 car parking spaces to the front of the property which are let at £15pw. The property is offered with existing furnishings.

The accommodation is set out in the schedule below:

Unit Floor Area (sq ft)

Area (sq m) Description

1

Ground 4,622 430.4

Studio Flat 1

2 Studio Flat 2

3 Student Cluster 1

4 Student Cluster 2

5First 3,850 357.7

Student Cluster 3

6 Student Cluster 4

7 Second 2,154 200.1 Student Cluster 5

8 Basement 824 76.5

Total 11,450 1,063.7

These floor areas have been supplied by the vendor and we understand they have been meas-ured in accordance with the RICS Code of Measuring Practice.

* Garage not available on 43 week let

Important Notice

Savills, their clients and any joint agents give notice that:

1. They are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either on their own behalf or on behalf of their client or otherwise. They assume no responsibility for any statement that may be made in these particulars. These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact.

2. Any areas, measurements or distances are approximate. The text, photographs and plans are for guidance only and are not necessarily comprehensive. It should not be assumed that the property has all necessary planning, building regulation or other consents and Savills have not tested any services, equipment or facilities. Purchasers must satisfy themselves by inspection or otherwise.

Designed and Produced by Savills Marketing: 020 7499 8644 | May 2015

PLANNING

The property is located within Leicester City Council Planning Authority. Conditional planning permission for conversion of the property was granted in March 2011 (Planning application no. 20110046) for “change of use from training centre (class D1) to student flats.”

TENURE

The property is offered for sale Freehold.

SERVICES

The rent is inclusive of water, electricity and wifi internet.

VIEWINGS

The property may be inspected internally strictly by prior appointment. Viewing days will be allocated for the first two weeks of June 2015.

METHOD OF SALE

The property is available for purchase by private treaty. The building is not elected for VAT.

Offers are requested in excess of £2,000,000

FURTHER INFORMATION

Further information is available on request, including: Site and Location plan, floor plans, title information, building documents, EPCs, planning information and historic performance.

CONTACTS

For further information please contact:

Matthew McBride mmcbride@savills.com +44(0)20 7409 5990

Jaspreet Gill jgill@savills.com +44 (0) 207 409 8174

Richard McKenna rmckenna@savills.com +44 (0) 20 7016 3807

STUDENT INVESTMENT OPPORTUNITY | ALEXANDER HOUSE – 112 REGENT ROAD, LEICESTER