INVESTMENT HIGHLIGHTS
- The site occupies 2.5 acres and is located in the northwest of the city centre, in Sheffield city centre's ring road. The site splits into two development plots both being developed by the Sponsor: 663 bed student scheme and, a 260 private residential scheme together with associated 48 car parking spaces. A new publicly accessible space between the buildings provides access to both schemes.
- The site also includes a Grade 2 Listed cementation furnace. This Scheduled Ancient Monument will remain a key feature of the residential scheme. In terms of public transport, the site is served well with Sheffield Supertram running along with the nearest stop some 2 minutes walk. Sheffield railway station is only 15 minutes walk south of Hoyle Street providing regular services within the region. It also provides regular services to London, Birmingham, Bristol and the South West.
- The student accommodation block comprises a total of 663 student bedrooms split across 4 - 14 bed clusters and town houses. Rooms range from 12.9 sqm to 21.8 sqm in terms of size with 7 different models. Rent estimates for the bedrooms are between £125 - £135 per week for a 43 week year.
- The building will feature a GIA of 17,783 sqm: 3,428 sqm townhouses, 14,099 in clusters and 256 sqm of retail. The expected gross rental income of the property is £3.8m or equivalent of £5,734 per bedroom per annum in average.
- Considering operating and void costs of 25% the property net annual projected income is £2.85m. At a 5.75% yield, the estimated gross development value on a forward funding basis is £48.75m.
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DEAL DATA ROOM
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