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Student / Living 1 STUDENT / LIVING 3 INVESTMENT CONSIDERATIONS • Prime student accommodation opportunity in • Commonwealth Games in Glasgow in 2014 core city centre location, fully let for 2013/14 will help bolster the city’s international reputation • Additional income from Sainsbury’s and Ask Restaurants • Potential to increase future income by continuing to move all student • 133 bedroom studio accommodation (140 accommodation contract lengths to 51 weeks beds), providing an average bedroom size of 27.14 sq m and excellent common facilities • Savills are instructed to seek offers in excess of £16,500,000 (sixteen million five • Highest specified scheme in Glasgow. The hundred thousand pounds) for the heritable property is a former lifestyle boutique hotel, title of the property, which reflects a net initial extensively refurbished and converted to yield of 6.40% on the student income, 6.00% student use in 2011 for the Sainsbury’s and 6.75% on the Ask unit, assuming purchaser’s costs of 5.80%. • Glasgow is a renowned and established The asset is for sale inclusive or exclusive of centre for higher education, boasting three the retail element. The SPV is also available main universities and a full time student to purchase and details can be provided on population of 50,450 request. • Excellent location within the heart of the city in close proximity to university campuses including Glasgow Caledonian and Strathclyde universities 4 S A R LOCATION A C E N S T A81 Glasgow is Scotland’s largest city and one of A879 the largest in the United Kingdom boasting G five recognised higher education institutions. C A R RSCU A M I The city has seen particularly strong economic G SIGHTHILL A H R B Y A PARK H E L I R growth and development in recent years and L L L D R R has a population in the order of 600,000 and a A82 D D GREA T WE STER M8 catchment area of over 2 million. N RD University of Glasgow The city which is situated in the Central Belt of Scotland benefits from excellent transport Glasgow Caledonian connections by road, rail or air. Access to the University W GRAHAM ST extensive motorway network that surrounds C OW CAD Glasgow has been further improved by the The Glasgow DENS RD completion of the M74 extension link. The rail School of Art RCS ST network links Glasgow to a wide commuter RENFREW ST RENFREW ST KELVINGROVE catchment and trains run every 15 minutes A PARK City of Glasgow RG SAUCHIEHALL ST SAUCHIEHALL ST Y SCOTT ST LE S College University of between Glasgow and Edinburgh. Over £200m T BATH ST BATH ST Strathclyde has been invested in the airport in recent years W REGENT ST W REGENT ST QUEEN ST STATION and an average 20,000 passengers pass through N HANOVER W GEORGE ST GEORGE ST DUKE ST every day. M8 GEORGE SQUARE AR GYL ST. VINCENT ST ST. VINCENT ST E S T W CAMPBELL ST T W NILE ST The property is located next to Buchanan Bus NT S INCE ST. V WILLIAM ST BOTHWELL ST ST Station, Glasgow’s main bus terminal which H G PITT ST HI BISHOP LN WATERLOO ST serves c. 40,000 passengers each day. W NILE ST EXPRES ESIDE SWAY LYD C Tourism is a continuing growth sector within HOPE STREET ARGYLE ST ARGYLE ST TRONGATE GALLO TE WGA ST A814 S the city with over 2 million overnight visitors S O R CENTRAL C OB ST and in addition, the city is a rapidly expanding STATION YORK ST conference destination, both of which offer ET K R CLYD AW E ST opportunities to maximise summer income, IEL MA OM T BRO AL subject to term lengths. S LANCEFIELD QUAY CLYDE PL T S GLASGOW GREEN The city centre provides a huge variety of retail R IVER CLYDE offer from high street multiples to boutiques D Y R ISLE COMMERCE to international flagship stores. The city ranks PA NELSON ST number one on the PMA retail provision score A8 out of the UK’s top 200 retail centres and is the FESTIVAL RD LEY PARK AIS UK’s second largest retail centre after London. P Not to scale - for identification purposes only 5 SITUATION The property is located prominently on a prime Glasgow International airport is approximately street corner site at the junction of Port Dundas 8 miles to the west of the centre of the City and Road and Killermont Street opposite the is accessible by a regular shuttle bus service entrance to The Glasgow Royal Concert Hall. leaving at ten minute intervals throughout the day from George Square. The property also The property is on the doorstep of both benefits from easy access to Glasgow’s Subway Buchanan Street and Sauchiehall Street, two of network, which is located within 350m. the city’s three principal retail thoroughfares. The Buchanan Galleries shopping centre is The asset is within close walking distance of located directly across the road. a number of higher education institutions within Glasgow. The property sits on the main This is a prime location within the city centre, pedestrian route to Glasgow Caledonian close to retail and leisure facilities as well University’s campus on Cowcaddens Road, as being easily accessible to transport links which runs parallel to the north of Killermont including the M74 and M8 motorways. Street. The main campus of the University of Strathclyde is situated on George Street and Buchanan Bus Station (the main Glasgow bus teaching buildings can be accessed from terminal providing bus services across Scotland the north of the campus site on Cathedral and south) lies immediately to the east of the Street, the entrance for which is approximately property and Queen Street Station, providing 750m to the south east. The University of regular rail services across the central belt of Glasgow is situated in the West End of the city Scotland and beyond, is within 500m to the approximately 2.3 km to the west, but is easily south east. accessed via subway. The property’s central position means that it benefits from high footfall and significant ‘walk- in’ student trade, reducing marketing costs. 6 BUCHANAN BUS ROYAL CONCERT QUEEN STREET GEORGE STATION HALL STATION SQUARE UNIVERSITY OF STRATHCLYDE CITY OF GLASGOW COLLEGE GLASGOW CALEDONIAN UNIVERSITY ROYAL CONSERVATOIRE BUCHANAN SUBWAY CENTRAL BUSINESS OF SCOTLAND GALLERIES STATION DISTRICT 7 HIGHER EDUCATION IN GLASGOW Universities Glasgow Caledonian University has a strong There are five recognised higher education international presence with campuses in 2014 Times Applicants University Total Full-time International institutions in Glasgow, with a sixth - The London, New York and Bangladesh and Ranking Per Place City of Glasgow College, which was formed partnerships in China, India, South America and Oman. They have invested heavily in facilities in 2012 through the merger of Glasgow’s University of Glasgow 26,295 20,745 5,235 25 6.9 colleges, Central College Glasgow, Glasgow and teaching spaces at the Glasgow campus Glasgow Caledonian Metropolitan College and Glasgow College which is located in the town centre and have 16,120 12,380 2,035 81 6.1 University of Nautical Studies. There are three main attendees from over 100 countries currently universities; Glasgow, Caledonian and studying in Glasgow. The University of 19,755 14,780 2,815 42 6.2 Strathclyde, all of whom feature on the Times Strathclyde The Scottish Government has abolished tuition Good University Guide and have significant full fees for all students from Scotland and the The Glasgow School of Art 1,720 1,655 495 - - time student populations. All universities are EU (excluding England, Northern Ireland and investing heavily in their campuses. Royal Conservatoire 895 890 195 - - Wales) who study at Scottish universities. This Total 64,785 50,540 10,775 Founded in 1451, the University of Glasgow has kept application numbers from EU students is the fourth oldest in the English speaking particularly strong. Source: HESA 2011/12, The Times 2014 world and was ranked 51st in the QS World Purpose Built Student Housing in Glasgow Rankings 2013/14. In recent years, the University Student Housing - No. of student houses in Glasgow has worked hard to build its international There are approximately 10,789 purpose reputation and this has started to show in built student accommodation bedrooms in overseas recruitment numbers. In July of this Glasgow, including both University owned and 50,540 year the University successfully purchased privately built stock. This equates to only c. Current demand a neighbouring landholding, allowing it to 21% of full time students being able to access (full-time higher education students) now review, redevelop and expand the main such accommodation which is significantly campus, adding to their extensive on-campus lower than the UK average and points to a Undersupply investment of recent years. supply and demand imbalance within the (current demand minus current supply) city. Approximately 60% of purpose built 39,751 The University of Strathclyde was established in accommodation is provided by the universities, Current Supply 1796 during the Scottish Enlightenment and has and 40% by the private sector. (university and private accomodation maintained a strong focus on Technology. It is combined) in the process of investing £350m in its campus and was the THE UK University of the Year 2012. 10,789 8 DESCRIPTION The property is arranged over basement, ground, mezzanine and five upper levels and is of modern steel frame construction having elevations comprising sandstone blockwork interspersed with double glazed panels. The frontage to Killermont Street incorporates a glazed atrium feature. The converted former lifestyle boutique hotel has been in operation as student accommodation for approximately two years and comprises a total of 133 en-suite studio units incorporating 140 beds.
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