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Prime PBSA Forward Funding Opportunity, 292 - 298 St Vincent Street, Glasgow, G2 5RU
For Sale
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Tenure
For Sale -
Type
Investment -
Price
Offers in Excess Of £60,382,000 -
Size
321 Beds -
Ref No
15010
Overview
- DETAILED PLANNING CONSENT FOR 321 PBSA STUDIO BEDS (REF: 23/00919/FUL)
- TOTAL AMENITY SPACE: 17,513 SQ FT (1,627 SQ M) = OVER 5 SQ M PER BED
- SUSTAINABILITY: EPC "B" (WITH EPC "A" TO BE TARGETED DURING DESIGN AND CONSTRUCTION) / NO ON-SITE COMBUSTION OF FOSSIL FUELS
- ANTICIPATED PRACTICAL COMPLETION: MAY / JUNE 2026 (CONSTRUCTION START DATE IS MAY/JUNE 2024)
- DEVELOPER: ARTISAN REAL ESTATE - EXCELLENT TRACK RECORD OF DELIVERY (2023 WINNER "EXCELLENCE IN SUSTAINABILITY" SCOTTISH HOME AWARDS)
- RENTAL INCOME: GOI / NOI PROVIDED BY HOMES FOR STUDENTS (WITH STRONG PROSPECTS FOR RENTAL / NOI GROWTH)
- 75% OF FULL-TIME STUDENTS IN GLASGOW ARE UNABLE TO ACCESS PBSA
-GUIDE NET INITIAL YIELD: 5.85% REFLECTING A GDV (NET OF COSTS) OF £60.382M