Sansome Hall, 1 Sansome Walk, Worcester, Worcestershire, WR1 1LH

For Sale by private treaty.

Offers based on £2,850,000

Freehold City Centre Student Investment Opportunity

Sansome Hall was built in 2008 and comprises 83 en-suite bed spaces and a 1 bedroom flat arranged in a single building over five floors. The property has lift access to all floors. The Vendor has recently spent approximately £75,000 on improvements and maintenance across the building over the past 6 months. All rooms are en-suite and each cluster flat contains between six and ten bedrooms with an open plan communal kitchen and dining area. Internally, the property provides fully equipped spacious shared kitchens, bedrooms including en-suite shower rooms, a single bed, desk and wardrobe. The property also benefits from an on-site laundry room, secure bicycle storage area, Wi-Fi internet connection and intercom entry system.

Location
Worcester is an affluent commercial and retail centre in Worcestershire in the south west of England. It is approximately 125 miles to the north west of London, 17 miles to the south west of Birmingham and 28 miles to the north of Cheltenham.
Worcester benefits from excellent road communications providing direct access to the M5 motorway via Junctions 6 and 7 which links to the M4 and M6 and the wider motorway network.
Worcester Foregate Street and Worcester Shrub Hill are located in close proximity to the subject property providing regular mainline services to Bristol, Birmingham, and London. Quickest journey times is approximately 40 minutes to Birmingham and 2 hours to London.
Birmingham International Airport is located approximately 35 miles to the north east of the property providing flights to many European and global destinations.

Tenure
The property is held freehold.
Title number: WR66263

Planning
Sansome Hall received planning permission on 15 March 2007 for the following:
C1 consent Demolition of existing building to allow for erection of a block of 89no student bedsits with communal kitchen and dining areas (Class C1). (Ref: P06D0750).'

The property is not listed and is not located in a Conservation Area.

Tenancy
The property is fully managed. The ensuite bedrooms are directly let on Assured Shorthold Tenancies and each cluster flat benefits from an HMO License. The property is currently 89% occupied with a total contracted gross rent of £37,600 per calendar month (£451,200 per annum). The Management Agreement, Tenancy Schedule and HMO Licenses are available upon
request.

VAT
The property is elected for VAT, and it is proposed that the sale will be treated as a Transfer Of a Going Concern (TOGC).

Proposal
Offers based on £2,850,000 are sought for the freehold interest, subject to contract and exclusive of VAT.
A purchase at this level represents a low capital value of £34,337 per bed space.

EPC
Available upon request.

Anti Money Laundering
In order to comply with anti-money laundering legislation, the successful purchaser will be required to provide certain identification checks. The required documents will be con- firmed and requested from the successful purchaser at the relevant time.