Offers over
£3,000,000
(£88.21/sq. ft)
Block of flats for saleButts, Coventry CV1
34,008 sq. ft
About this property
Freehold
Development Opportunity
Value Add Opportunity for Purpose-built Freehold Student Accommodation
• A purpose built student accommodation building comprising 134 beds (82 Standard Plus and 52 Standard).
• The property is arranged over four storeys and benefits from lift access to all levels.
• Located 0.5 miles from Coventry Station, and 0.9 miles from Coventry University.
• Gross Internal Area 34,008 sq.ft (3,159 sq. M).
• The property is vacant due to internal damage requiring repairs and was previously occupied in Summer 2023.
• The Estimated Rental Value (erv) of the property, once refurbished, is in the region of £795,000 per annum.
• An opportunity to reposition as Residential (C3), Co-Living (Sui-Generis) or Hotel (C1) subject to obtaining the necessary consents.
• Sold with Vacant Possession.
• Freehold
Proposal
• Guide Price - Offers In Excess Of £3,000,000 (Three Million Pounds), subject to contract. A purchase at this level reflects a low capital value of £88 psf.
• A purpose built student accommodation building comprising 134 beds (82 Standard Plus and 52 Standard).
• The property is arranged over four storeys and benefits from lift access to all levels.
• Located 0.5 miles from Coventry Station, and 0.9 miles from Coventry University.
• Gross Internal Area 34,008 sq.ft (3,159 sq. M).
• The property is vacant due to internal damage requiring repairs and was previously occupied in Summer 2023.
• The Estimated Rental Value (erv) of the property, once refurbished, is in the region of £795,000 per annum.
• An opportunity to reposition as Residential (C3), Co-Living (Sui-Generis) or Hotel (C1) subject to obtaining the necessary consents.
• Sold with Vacant Possession.
• Freehold
Proposal
• Guide Price - Offers In Excess Of £3,000,000 (Three Million Pounds), subject to contract. A purchase at this level reflects a low capital value of £88 psf.
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