DARLEY BANK 7-11 Brook Street Derby DE1 3PF
FOR SALE DARLEY BANK 7-11 Brook Street Derby DE1 3PF RARE STUDENT ACCOMMODATION LONG INCOME INVESTMENT OPPORTUNITY DARLEY BANK, 7-11 BROOK STREET, DERBY, DE1 3PF DERBY, DARLEY BANK, BROOK STREET, 7-11 • Rare opportunity to acquire a freehold, high-quality • Underpinned by a strong vacant possession, direct let student accommodation asset situated in Derby value reflecting c.95% of the property’s market value • Darley Bank comprises a modern, cluster-led purpose- • University of Derby is rated Gold in the Teaching built student accommodation scheme with 14 studios Excellence Framework and 391 cluster bedrooms • The University of Derby has seen student population • Located on Brook Street, its prime situation offers easy growth of 25% over the five years to 2018/19 Investment access to the University of Derby and Derby City Centre • The property is let for a term certain of 28 years and 6 months, offeringsecure, index-linked income Montagu Evans are instructed to seek offers in excess of £27,500,000 Summary • Rent is reviewed annually in line with RPI, with a collar of 2% and a cap of 4% respectively (Twenty-Seven Million Five Hundred Thousand Pounds) subject to • Let to Derbyshire Student Residences Limited with the contract and exclusive of VAT. This reflects a low capital value of £67,901 University of Derby acting as guarantor, both benefiting per bed space and an attractive Net Initial Yield of 4% at the current from a Dun & Bradstreet Ratings of 5A1 passing rent (assuming purchaser’s costs of 6.76%) • Current passing rent of £1,177,335 (effective 1st September 2020) reflecting a rent cover ratio (on the basis of Direct Let) of approximately 1.5 times PAGE 2 PAGE DARLEY BANK, 7-11 BROOK STREET, DERBY, DE1 3PF DERBY, DARLEY BANK, BROOK STREET, 7-11 Derby Derby is a major regional centre in the East Midlands, situated approximately 15 miles west of Nottingham and 26 miles north- west of Leicester.
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