- Located in the affluent town of Royal Leamington Spa in the grounds of the WCG Royal Leamington Spa College campus.
- Two purpose-built properties known as Disbery Hall and Wood Hall.
- 100% en-suite student accommodation providing a total of 190 beds.
- Occupancy Rate for the 2024/2025 academic year is averaging over 95%.
- Favourable supply/demand dynamic with purpose-built accommodation only catering for 51% of full-time students in Warwickshire.
- Let to Warwickshire College, trading as WCG, under two separate leases providing a WAULT of 16.7 years.
- The current total passing rent is £678,110 per annum per annum reflecting £3,569 per bed.
- The leases are subject to 5 yearly RPI linked rent reviews with a collar and cap of 1% - 2.8% compounded annually.
- The next review for the Disbery Hall lease is April 2026, and the next review for the Wood Hall lease is September 2027.
- The vendor is proposing to top up the rent until the 2026 review where the rent is forecast to increase to £726,763 per annum reflecting approximately £3,825 per bed, based on the latest forecasts from Oxford Economics.
- Freehold site of 1.78 acres.
Offers are invited in excess of £10,500,000, subject to contract and exclusive of VAT.
Based on the topped-up April 2026 rent, a purchase at this level would reflect a Net Initial Yield of 6.49%, rising to a Reversionary Yield of 6.95% in September 2027, assuming purchaser costs of 6.70%.
