filters
Distillers Yard, 99 Borron Street, Glasgow, G4 9XF
For Sale
-
Tenure
For Sale -
Type
Investment -
Price
Offers in Excess Of £71,780,000 -
Size
4,110 Sq M -
Ref No
16909
Property Highlights
- Opportunity to forward fund a large scale PBSA development in a chronically under supplied market
- Attractive capital rate of £158k per bed
- Rents pitched at an affordable and sustainable level, 20%+ discount to prime city centre
- Unique campus-style living experience, unlike any other scheme in the city
- Comprising 454 beds: 197 studios and 257 cluster ensuites
- Unrivalled amenity space provision. Total amenity space per bed = 9 sq m
- Exceptional green credentials, including 'BREEAM Very Good' and 'EPC A' ratings. The scheme will boast air source heat pumps and roof-mounted solar photovoltaic panels
- The scale of international student demand in Glasgow is the second highest in the UK (excluding London)
Overview
We are seeking offers on a traditional forward funding structure in excess of £71,780,000 exclusive of VAT. A purchase at this level would represent a Net Initial Yield of 6.00% and based on NOI projections would have strong reversionary potential.
Consideration will also be given to a site sale.
The consented scheme will provide a new purpose built student residence development comprising 424 new student beds, while prioritising the quality of both internal and external amenity spaces (9 sq m per bed space). The design will foster a sense of community, promote well-being, and provide various opportunities for social interaction and relaxation. Given the campus style living approach, this will allow for a diverse student population and will consider their needs for privacy, study, and recreation.
The project will deliver a vibrant, inclusive, comfortable, and sustainable living environment for students.