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Property Name/Title FOR SALE ATLAS COURT, 75 HEALD GROVE, RUSHOLME, MANCHESTER, M14 4AP ATLAS COURT, RUSHOLME ATLAS COURT INVESTMENT HIGHLIGHTS: ➢ A well-located PBSA asset in Manchester – Rusholme ➢ An established student area of Manchester ➢ The property comprises 17 flats offering standard beds across 15 x three-bed apartments and 2 x one- bed apartments ➢ The property is located in the heart of Rusholme, parallel to Wilmslow Road (the famous ‘Curry Mile’) ➢ A 12-minute walk to the University of Manchester main campus ➢ Gross Rent – £276,115 ➢ Offers sought in the region of £2.70 million FOR SALE Atlas Court, 75 Heald Grove, Rusholme, Manchester, M14 4AP Manchester – Rusholme ➢ Rusholme is a lively area located to the south of Manchester city centre. ➢ Home to Manchester’s curry mile, the area boasts many restaurants, shops and shisha bars ➢ An established student location, the suburb offers a diverse mix of housing from large Victorian villas, tower blocks, social housing and student accommodation ➢ Rusholme is located approximately 0.50 miles from the main university buildings ➢ The property is in close proximity to Whitworth Park, boasting a number of easily accessible cycle paths through the university main and Fallowfield campuses ➢ The property is also just a short walk to the 'Oxford Road Corridor’ - the busiest bus route in Europe, with a service approximately every 90 seconds, taking students to the university campuses and city centre. Oxford / Wilmslow Walk Road Manchester Metropolitan University University of Manchester (Main Campus) 12 min ATLAS COURT Curry Mile FOR SALE Atlas Court, 75 Heald Grove, Rusholme, Manchester, M14 4AP PROPERTY DESCRIPTION ➢ A Purpose-Built Student Accommodation asset in the heart of Rusholme, completed in 2010 providing 47 rooms and extensive basement space ➢ The building is ‘L’ shaped of framed construction with brickwork elevations ➢ The block fronting Heald Grove extends to three-storeys, set below a pitched roof with concrete roof tiles whilst the Great Western Street elevation extends over four-storeys ➢ Windows throughout are UPVC double glazed with each flat having a Juliet balcony ➢ Main access to the block is off Heald Grove, with entrance hall providing metal post boxes per each flat ➢ Access to the individual apartments is via covered walkway with ground floor apartments accessed from the decked courtyard to the rear of the property ➢ The basement is accessed off Heald Grove by electronically operated roller shutter security doors ➢ Rooms are to a high standard with either ¾ doubles (classic and premium) or double beds (deluxe) Tenure Planning Available Freehold (Title No. Planning permission for the scheme was granted in August 2006 GM917084) (planning application number 079363/FO/2006/S1) for ‘Erection of a part 3 part 4 storey building comprising 17 self contained flats’. Rental Profile for 2019/20 Property Beds Price per bed Price per Rent (pa) Notes per week bed pcm One Bed (Flat 9 & 14) 2 £178 - £180 £770 - £18,600 Let on 12 month tenancies – no incentives £780 Classic Room 9 £95 - £101.15 £411.67 - £46,200 Let on 12 month tenancies – no incentives £438.33 Premium Room 16 £102.69 - £445 - £90,170 Let on 12 month tenancies – no incentives. £109.23 £473.33 Price reduction on 17B to £445 pcm, all others offered at £473.33 Deluxe Room 20 £102.69 - £445 - £121,145 All let on 12 month tenancies, 2x rooms on 14 £116.15 £503.33 month tenancies (15B & 11B). 8c on 13-month tenancy. Price reduction on 11B and 5B to £445pcm Total 47 £276,115 Rents are inclusive of bills FOR SALE Atlas Court, 75 Heald Grove, Rusholme, Manchester, M14 4AP MANCHESTER STUDENT MARKET ➢ Home to two highly regarded universities and further higher education institutions in the surrounding area. ➢ Full-time student population (including Salford) is c. 83,000 students ➢ 65,000 full-time students study at the two main universities – University of Manchester and Manchester Metropolitan University. ➢ Approximately 20% of the total students in the city is accounted for by overseas students with the University of Manchester having a c. 34% overseas student population. ➢ Both universities have invested heavily over the last couple of years ➢ The University of Manchester is partway through a £1 billion campus masterplan from 2012 – 2022. ➢ Man Met has invested £350 million in specialist buildings and teaching facilities with a further £400 million investment planned across the university’s facilities, buildings and public spaces. ➢ Manchester has an established HMO market, which centres around the Fallowfield area. University Full time International Applications Time 2019 Student Students Students to Place Rank Population Growth 2012 - 2017 University of 36,650 13,590 8.8 19 9% Manchester Manchester 27,965 2,285 6.7 69 5% Metropolitan University RNCM 930 285 N/A N/A 26% Source: The Sunday Times Good University Guide 2019 Item No. of beds 24,032 Private Rooms 15,886 (66%) Pipeline 6,832 (4,557 approved) Rental Growth (2017/18 – 2018/19) Uni 4.0% / Private 5.9% Source: HESA and Cushman & Wakefield Student Accommodation Tracker Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question. FOR SALE Atlas Court, 75 Heald Grove, Rusholme, Manchester, M14 4AP PROPOSAL Offers are invited in excess of £2.70M (Two Million Seven Hundred Thousand Pounds) for the Freehold interest. TENURE METHOD OF SALE Freehold The property is offered for a sale by means of private treaty although we reserve the right to conclude via VAT means of informal tender The Property is not elected for VAT DATA ROOM For more information, please contact: Data room available on request Russell Hefferan 0161 235 7666 INSPECTION [email protected] The property may be viewed by appointment Katherine Almond only 0161 235 8955 [email protected] Olan Coyle 0161 235 8975 [email protected] MISREPRESENTATION ACT: Cushman & Wakefield Debenham Tie Leung Limited ("C&W") gives notice to anyone who may read these particulars as follows: 1. These particulars are prepared for the guidance only of prospective purchasers. They are intended to give a fair overall description of the property only and do not constitute any part of an offer or contract. 2. Any information contained in these particulars (whether in the text, plans or photographs) is given in good faith but should not be relied upon as being a statement or representation of fact or that the property is in good condition or otherwise nor that any services or facilities are in good working order. 3. The photographs appearing in these particulars show only certain parts and aspects of the property at the time when the photographs were taken. Certain aspects may have changed since the photographs were taken and it should not be assumed that the property remains precisely as displayed in the photographs. Furthermore no assumptions should be made in respect of parts of the property which are not shown in the photographs. Any areas, measurements or distances referred to herein are approximate only. 4. Where there is reference in these particulars to the fact that alterations have been carried out or that a particular use is made of any part of the property this is not intended to be a statement that any necessary planning, building regulations or other consents have been obtained and these matters must be verified by any intending purchaser. 5. No person in the employment of C&W has any authority to makeCushmanor give & Wakefieldany representation Copyright or2015.warranty No warrantywhatsoever or representation,in relation to this expressproperty or implied,.6. This isproperty made tois theoffered accuracysubject or tocompletenecontract andss ofunless the informationotherwise containedstated all rentsherein,are andquoted exclusivesame is submittedof VAT.7 subject. Unless to otherwiseerrors, omissions,stated, nochangeinvestigations of price, rentalhave orbeen othermade conditions,by or withdrawalon behalf ofwithoutC&W notice,regarding and tpollution,o any specialor potential listing conditionsland, air imposedor water bycontamination the . Interestedproperty owner(s).parties are As advisedapplicable,to carry we makeout their no representationown investigations as toas therequired condition. Date of theof publicationproperty (orAugust properties)2019 in. question..
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