The Printworks, Preston

An opportunity to acquire a purpose-built student accommodation (PBSA) long lease ground rent investment.

• Located in Preston – A guild city in the heart of the Lancashire.
• Situated on Sizer Street immediately adjacent to the city’s university, UCLan.
• UCLan has a student population of over 38,000.
• The property is under construction and due to complete in September 2022.
• It will comprise of 218 studio apartments each let on 250-year leases at £350 per annum.
• Freehold.
• Each lease has 5 yearly rent reviews in line with the Retail Price Index (RPI uncapped).
• Total passing rent of £76,300 per annum.
• We are instructed to seek offers in excess of £1,300,000 (one million three hundred
• thousand) which will reflect a net initial yield of 5.5% assuming purchasers’ costs
• of 6.8%.