Royal Crescent Road, Southampton, SO14 3TT, UK

Royal Crescent Road - Southampton - Site Sale

Asset description

In March 2024 planning approval (23/00649/FUL) was obtained for a Co-living development in Southampton city centre.
The consented scheme comprises 397 Co-living units spread across a 17-storey tower, 7 story stack and 5 story base.
The proposed development benefits from an efficient unit mix and includes a generous allocation of communal amenity space (3.1 m2 per unit), incorporating a gym, café, workspace, and extensive communal terraces (1.5m2 per person).
The Site measures 0.47 hectares and is centrally located on Royal Crescent Road, just an 10-minute walk to the city centre and in close proximity to local amenities, Southampton University and many major employers.

...

Land area gross

1.16 acres

Beds

397

Planning permission

Consented

Keys

397

Units

397

Freehold development opportunity in prime location - Just 10 minutes' walk from city centre, close to amenities and major employers
The total site area extends to approx. 1.16 acres (0.47 hectares)
Fully consented scheme for 397 Co-living units (ranging from 18.5 – 27 sqm)
Generous provision 3.1 sqm of internal amenity per unit and 2.7 sqm of external
Designed to BREEAM Excellent standards with focus on sustainability
Strong market fundamentals with a growing young population and undersupply of quality rental housing
Robust rental growth - 31% over past 5 years and 9.1% in last year alone

Diversified demand drivers - Students, young professionals and corporate lets