PARK STUDENT VILLAGE SHEFFIELD PARK STUDENT Cinema Room VILLAGE SHEFFIELD

INVESTMENT SUMMARY

█ A rare opportunity to acquire a freehold village offering a unique student experience in a secure environment

█ Fully occupied with a strong booking profile for the next academic year

█ Extensively refurbished in 2010 with the addition of a popular common room and cinema room in 2013 LOCATION █ Park Student Village provides competitively priced student accommodation in comparison to the local HMO and purpose built accommodation market Sheffield is one of the largest cities in England and is located 64 km (40 miles) south-east of Manchester and 48 km (30 miles) south of Leeds. █ Secure development extending to 8.38 acres (3.39 hectares) The city has good motorway access located 8 km (5 miles) west of M1 junctions 33 and 34, the main █ 54 lodges & 29 townhouses comprising 447 bedrooms north / south arterial route connecting into the wider UK motorway network. █ Detailed planning permission for a further 40 bedspaces The mainline rail station has direct services to London St Pancras, providing a fastest █ Ground rent income from 34 long leasehold properties journey time of 2 hours and 7 minutes and also to Birmingham (1 hour 4 minutes), Leeds █ Additional sundry income and summer income (40 minutes) and Nottingham (52 minutes).

█ Secure parking for 92 cars SITUATION █ Rooms let on a direct let basis and managed by CRM (a student accommodation management specialist) Park Student Village is situated to the south-east of Sheffield city centre and to the north of Norfolk Park. █ Located within easy walking distance of Sheffield Hallam University, Sheffield College and a range of transport links The development is accessed off Norfolk Park Road which leads south off the A6135 Granville Road. At its western end Granville Road links with the A61 (Sheffield Inner Ring Road). █ Opportunity for significant representation in the UK’s 6th largest university city Sheffield train station and Sheffield Hallam University are located circa 0.9 miles to the north-west of █ Sheffield boasts two established universities and an international student population the village, within a 10 to 15 minute walk. of 11,145 A regular bus service, with a stop close by to the Granville Road entrance gates of the scheme, █ Forecast gross income of £1,692,372 for 2013/2014 provides transport to Sheffield Hallam campus. █ Forecast net operating income of £1,022,372 for 2013/2014 Norfolk Heritage Park, to the south of Park Student Village, extends to 30 hectares. The public park █ Offers sought in excess of £11,750,000 (Eleven Million, Seven Hundred and was regenerated following a £3.6 million restoration project that was completed in 2005. Fifty Thousand Pounds) for the freehold interest, reflecting a net yield of circa 8% Sheffield Hallam University Campus

Sheffield Train Station

Sheffield College

Park Student Village

1 6 A 10 A6 9 T SA S D V E ILE R ST S N E TRAVEL TIMES H K O A I N L D T U E O T A To Main University Campuses S R O S M R S L E E O E L O O R Y Y P Y • Bus - 10 mins to Sheffield Hallam City Campus; 22 mins to University of Sheffield R W R O A6 R S H 1 O I A V T MO C R Y OR E • Walking - 15 mins to Sheffield Hallam City Campus; 35 mins to University of Sheffield FIELD E S R E A6 1 D T DER • Cycling - 8 mins to Sheffield Hallam City Campus; 15 mins cycle to University of O EK D OOL N EY W AY Sheffield

B B A LO R D N B Distance (walking) - 0.9 miles to Sheffield Hallam City Campus;A 1.6 miles to University K 3 E 7 O S 0 R R T of Sheffield E 6 ROA P CASTLEG B D R ATE Y C O T A RO H E W To City CentreO T E K K R R R E E T A S H S P • Walking – V20 mins • Cycling – 11 mins • DistanceT (walking) – 1.1 miles R LD A E E E LL T FI  E  N N F Y E E R T H O S

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O 1 RO E B E U University of Sheffield T P A57 WESTE 1 RN P BA 6 NK E A R

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A 613 5 GR A NVIL L Sheffield Hallam D E RD A T O R S S University Collegiate Y’ E A R R A Crescent Campus O 61 ST M S D MO T The Sheffield M R

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Norfolk

Heritage Park

Pedestrian Access Pedestrian Access

Vehicle Access Phase 3

Phase 2 Phase 1

SITE PLAN

87 TCB 89.6m CR 251

265 269 95.0m 283 CR

98.9m

40 2 GR ANVILLE ROAD

106.5m

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86.9m De

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Gas 28 PC 2 1 Gov

82.0m C R D PC ef

FW 74 Lodge

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5 1 0 2 6 7 5 68 71 73 60 72 0 5 51

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D 0 ra 1 e in Reception Block 0m 25m 50m 75m

Ordnance Survey © Crown Copyright 2013. All rights reserved. Licence number 100022432. Plotted Scale - 1:2237 Properties highlighted in red have been sold on 125 year leases from January 2007 DESCRIPTION Common Room The scheme comprises 447 bedrooms across 54 lodges and 29 townhouses, developed over two phases. 34 properties within the development have been sold off on 125 year long leases from 1st January 2007.

The scheme was extensively refurbished in 2010. These works included the replacement of all kitchens and bathrooms, as well as landscaping of the communal amenity areas.

In addition, in 2013 the vendors completed the refurbishment of a two storey common room. This comprises social space, kitchen and WCs on the ground floor, and a cinema room on the first floor. The common room and cinema are hugely popular with students living within the scheme, and it acts as an important social hub. Activities such as cinema nights are regular feature over the student year.

The freehold properties owned within the development are currently managed on-site by CRM, from a reception block situated adjacent to the common room. CRM are the largest independent manger of student accommodation in the UK, with 19,000 beds currently under their management. CRM is accredited by ANUK, a body recognised by all UK Universities, the Student Union and the UK Government for defining a code of standards for student accommodation.

PLANNING Planning information for the scheme, including planning permission relating to the first two phases are contained within the dataroom.

Further information relating to third phase of the scheme is also contained in the dataroom. Detailed planning permission (Ref: 11/02455/FUL) was granted on 14th June 2013. It allows for the erection of two, four storey blocks of student accommodation, providing 40 bed spaces within six cluster flats. The proposed site is located within a wooded area at the northern end of the site (as denoted within the site plan).

ACCOMMODATION SUMMARY

HOUSE TYPE - LAYOUT HOUSE TYPE - MARKETING HOUSES BEDROOMS PER HOUSE SHOWERS PER HOUSE WC PER HOUSE TOTAL BEDROOMS

ASPEN LODGE 11 6 2 2 66

HAWTHORN LODGE 17 6 2 2 102

HORNBEAM LODGE 24 5 2 2 120

WHITEBEAM LODGE 2 4 1 2 8

ALDER TOWNHOUSE 21 5 1 1 105

LINDEN TOWNHOUSE 6 6 2 2 36

ROWAN TOWNHOUSE 2 5 1 1 10

GRAND TOTAL 83 447

FORECASTED INCOME 2013/14

TENANCY LENGTH RENT PER SHEFFIELD STUDENT MARKET ROOM RENT PER WEEK TENANCIES INCOME (WEEKS) ANNUM DEMAND TOWNHOUSE 51 £81 £4,131 13 £53,703 There are currently two main providers of Higher Education in Sheffield: The University of

TOWNHOUSE 44 £87 £3,828 138 £528,264 Sheffield and Sheffield Hallam University. There are 63,125 students of which 48,360 (77%) are full-time and are likely to require student accommodation during their studies. LODGE (CHALET) 51 £69 £3,519 27 £95,013 Of these full-time students, 39,980 (82%) are undergraduates and 8,650 (18%) are LODGE (CHALET) 44 £75 £3,300 268 £884,400 postgraduates. The total number of international students is 11,145 (18%) with 1,775 LODGE (CHALET) 18 £75 £1,350 1 £1,350 (16%) from inside the EU and 9,370 (84%) from non-EU countries. TOTAL 447 £1,562,730 The University of Sheffield is ranked 18th by The Times Good University Guide 2014 and AVERAGE 44.57 £78.52 £3,496 has 6.7 applicants per place. Sheffield Hallam University is ranked 77th by The Times Good University Guide 2014 and has 5.6 applicants per place. TENANCY EXTENSIONS/ 407 £58,042 The University of Sheffield has invested heavily in recent years, with £15m spent on an SUMMER LETS advanced manufacturing research centre with Boeing as a partner, a new centre for the arts SUNDRY INCOME (LAUNDRY, £100 447 £44,700 and humanities, a £23m Information Commons centre to augment the traditional library VENDING, ETC) facilities and £100m spent on biological and physical sciences, medicine, engineering and CAR PARKING £200 92 £18,400 social sciences.

GROUND RENT £250 34 £8,500 Sheffield Hallam University has invested £100 million over the last ten years upgrading TOTAL £1,692,372 its facilities and is planning to commit another £45 million to enhance the experience of its students and boost research. The latest stage of the development sees the opening of BUDGETED OPERATING COSTS 2013 - 2014 £670,000 a new social centre on the Collegiate Crescent site, which houses education, health and FORECASTED NET OPERATING INCOME 2013 - 2014 £1,022,372 community studies. A £14 million development has allowed the Faculty of Health and Wellbeing to almost double in size and the Centre for Sport and Exercise Science, with its SPECIFICATION OF ACCOMMODATION £6 million research facility, is one of the largest of its kind in Europe with 2,000 students. BEDROOM Integral in-room wash basin (certain rooms only) • High speed internet access as standard • Internet television and telephone services • Large, comfortable double bed with storage • High level of natural light – SUPPLY large windows • High quality and versatile electric room lighting • Large study desk with desk chair • Lockable There are circa 18,051 existing purpose built bed spaces, representing 37% of full-time students. bedrooms • Views across parkland (certain rooms only) The remaining students predominantly choose to stay in Houses in Multiple Occupation (HMOs). The graph below demonstrates the significant number of students residing in HMOs. KITCHEN SPACE Fully fitted modern kitchen with ample storage • Full size fridge freezer • Modern full size four ring hob and oven with grill • Extractor fan • Microwave • Vacuum cleaner and cleaning equipment

DINING SPACE Dining table and chairs

SOCIAL SPACE Large flat screen digital Freeview television • Large comfortable sofas • Coffee table Provision of Purpose Built Student Bedspaces in Sheffield

SHOWER ROOMS AND WCS Modern shower unit • WC • Wash basin • Mirror 50,000 OTHER Temperature controlled radiators • Security alarm system 45,000 40,000 Shortfall (broadly made up by 35,000 42,536 30,579 either HMO's or students living GENERAL 24 hour onsite reception with dedicated accommodation, maintenance and security teams • High speed 30,000 with parents) Hallam University 25,000 broadband-upgraded to 12 mb/s installed in September 2013 • Keyless site security with electronic fob access 20,000 Purpose Built Bedspaces

15,000 18,051

Car parking (available at extra cost) • Covered bicycle storage • Full laundry facilities • Fully equipped common University of She ffi eld and Full time students (HESA 2011/12) at 2011/12) (HESA students time Full 10,000 6,094 room with Sky+ HD television • Communal parkland gardens with seating and barbeques • Cinema room 5,000 0 University Provision University and Private Sector Typical Kitchen/Living Room Typical Bedroom

Typical Kitchen Typical Bathroom Common Room Cinema Room Reception Block

TENURE STUDENT INVESTMENT The property is held freehold, with 34 properties subject to long leasehold interests of 125 years from 1st January 2007. For further information please contact: Marcus Roberts VAT We understand the properties are not elected for VAT. Email: [email protected] Tel: 020 7016 3799 / 07807 999 187 METHOD OF SALE The property is offered for sale by private treaty. Lizzie Whetman Single offers are sought for the freehold interest subject to contract and the existing tenancies. Email: [email protected] Should a closing date be set for the submission of best bids, all parties who have expressed an interest will be advised accordingly. Tel: 020 7016 3863 / 07807 999 174

DATAROOM RESIDENTIAL INVESTMENT A full set of background information documents, including EPCs, are available on a secure website: www.savills.co.uk/parkstudentvillage George Hepburne Scott PROPOSAL Email: [email protected] Offers sought in excess of £11,750,000 (Eleven Million Seven Hundred and Fifty Thousand Pounds) for the freehold interest, Tel: 020 7016 3761 / 07968 550 401 reflecting a net yield of circa 8%.

EPC The EPC Energy Efficiency Ratings for the residential properties range from D to E.

IMPORTANT NOTICE Savills, their clients and any joint agents give notice that: 1: they are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either on their Savills (UK) Ltd own behalf or on behalf of their client or otherwise. They assume no responsibility for any statement that may be made in these particulars. These particulars do not form part of any offer or contract and 33 Margaret Street must not be relied upon as statements or representations of fact. 2: Any areas, measurements or distances are approximate. The text, photographs and plans are for guidance only and are not necessarily London W1G 0JD comprehensive. It should not be assumed that the property has all the necessary planning, building regulation or other consents and Savills have not tested any services, equipment or facilities. Purchasers 020 7499 8644 must satisfy themselves by inspection or otherwise. 1013 305920 savills.co.uk