UK: Court Mews, a purpose-built student accommodation building in Worcester, has been placed on the market for £3.1 million.
Fisher German is marketing Court Mews, which is already fully let for the next academic year. The property is located on Farrier Street and includes 48 en-suite rooms divided across six self-contained units. It has a rental income of £302,400 per year.
The investment opportunity is on the market for £3,1m reflecting a net initial yield of 6.91 per cent.
Fisher German associate Lauren Allcoat said: “Despite the current economic uncertainty faced by the UK economy, there is little doubt that the demand for purpose-built student accommodation is growing in university cities. With demand for affordable student lets outstripping supply and 46 per cent of students renting from private landlords nationally, the private sector has been under significant pressure to fill the shortfall in student accommodation. The picture being painted in Worcester very much mirrors the national one in terms of supply and demand, and anyone wanting to benefit from a diversified portfolio should consider the opportunities that student accommodation can offer. Worcester is an incredibly buoyant city, with areas across the city centre benefitting from regeneration and the university investing millions of pounds in new facilities, all of which will help to increase its student population.”
