Freehold Property to buy in Coventry

Key points

• Opportunity to acquire a modern, cluster-led purpose-built student accommodation scheme in Coventry, comprising of 212 beds with 208 cluster en-suite bedrooms and 4 studios
• The asset is well located within Coventry, being an 8 minute walk to Coventry University Campus.
• The lease for the asset is let to a subsidiary of The Unite Group PLC with an attractive WAULT of 8.2 years and offers secure income with annual uplift (the greater of 3% per annum or RPI)
• Total rent of £1,109,709 per annum
• Underpinned by strong vacant possession, direct let values
• Montagu Evans are instructed to seek offers in excess of £11,550,000 (Eleven million, Five Hundred and Fifty Thousand Pounds) subject to contract and exclusive of VAT.
• This reflects a low capital value of £54,500 per bed and reflects an attractive Net Initial Yield of 9.0%