Property Information
Address:
75-77 Cornwall Street, Plymouth, Devon
, PL1 1NS
, Devon
, United Kingdom
Price: Buy: POA
Size: 2821 sq ft262 sqm
Primary Category: Investment
All Categories:
Investment,
Property Ref/Movehut: MH670481
Property Ref/Agent: 20344
*Please use the agent ref when calling the agent directly.
Property Date Information
Last Updated: June 3, 2024
Property description
The property is arranged over 4 floors, with the ground floor being a self contained retail unit which is currently let to Scope.
The upper 3 floors provide purpose-built student accommodation, which was constructed circa 2018. Each floor has 3 clusters, each with their own kitchen/lounge area. The bedrooms all benefit from a single or double bed, en suite bathroom, wardrobe, built-in storage, desk and chair.
There are 12 bedrooms on each floor, so 36 rooms in total.
Student Market:
There are around 23,000 students in the city of Plymouth, which is now home to three universities with Arts University Plymouth, formally Plymouth College of Art gaining its university status in 2022.
The majority of these students study at Plymouth University, which has an additional 7,500 students studying for a Plymouth degree at partner institutions in the UK and around the world.
Plymouth University is one of the leading universities in the UK and has been voted in the Top 5 in the 2022 Times Higher Education Young University Rankings, along with a number of other achievements. Further information -
Marjon University ranked as the top university in England for student satisfaction in the Complete University Guide 2021. They provide programmes that involve work placements of some sort. Further information -
Arts University Plymouth has been voted as the top arts university in the UK for overall student satisfaction in the National Student Survey (NSS). Further information -
Mixed student and retail investment
Plymouth City Centre
Student element let for 1 year
Good quality student accommodation
Close to Plymouth University
Plymouth University is growing and therefore demand for student accommodation
Reversionary potential in 1 years time to let the individual rooms separately
Net income = Year 1 - £172,525 pa.
Year 2 - £182,525 pa
Gross yield 7.22% assuming purchasers costs of 6.36%. Increasing to 7.64% in the second year.
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