Student Accomodation For Sale! 34% BMV Theatre House, Cox Street, Coventry, CV1

A freehold purpose-built student accommodation (PBSA) asset in Coventry city centre, comprising 65 self-contained studio apartments arranged over lower ground to 4th floor (6 storeys), completed in May 2019. The building includes bike storage and an on-site laundry room, and is occupied predominantly by overseas student tenants, with 4 units currently vacant. The property is let on a 25-year lease from September 2019 with upward-only rent reviews every 4 years, with approximately 24.9 years unexpired (circa 8 years term certain). Net internal area is 13,986 sq ft (1,299 sqm), with a gross internal area of 21,413 sq ft (1,989 sqm). The asset is located in a prime position approximately 0.3 miles from Coventry University. Current rental income is £470,000 per annum (yield 10.9%), with estimated rental income of c£515,000 per annum (yield c11.9%) once fully let. The property is offered at a reduced strike price of offers in excess of £4,300,000, representing approximately 34% below the RICS valuation of £6,500,000. Timescale for completion is 28 days.

A freehold, purpose-built student accommodation asset in the heart of Coventry, comprising 65 self-contained studios completed in 2019 and let to overseas students on a 25-year head lease with upward-only rent reviews. Located approximately 0.3 miles from Coventry University with excellent access to shopping, transport, and city centre amenities, the asset generates strong income with a current yield of 10.9%, rising to an estimated 11.9% once fully let, and is offered significantly below its RICS-reported valuation.