Living / Multi-housing
Under Contract

The Printworks, Preston

Sizer Street, Preston, PR1 7DR, UK

The Printworks, Preston_Property for Sale

Gallery

The Printworks, Preston 2_Property for Sale

Asset description

An opportunity to acquire a purpose-built student accommodation (PBSA) long lease ground rent investment.

Attributes

Asking Price
$1,600,000
Year built
2000

Investment highlights

  • Located in Preston – A guild city in the heart of the Lancashire.
  • Situated on Sizer Street immediately adjacent to the city’s university, UCLan.
  • UCLan has a student population of over 38,000.
  • The property is under construction and due to complete in September 2022.
  • It will comprise of 218 studio apartments each let on 250-year leases at £350 per annum.
  • Freehold.
  • Each lease has 5 yearly rent reviews in line with the Retail Price Index (RPI uncapped).
  • Total passing rent of £76,300 per annum.
  • We are instructed to seek offers in excess of £1,300,000 (one million three hundred
  • thousand) which will reflect a net initial yield of 5.5% assuming purchasers’ costs
  • of 6.8%.

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Last updated
Nov 30, 2022