A 50-bed student accommodation facility in Bristol has gone up for sale at nearly £7m.
Cheswick Campus, located in Cheswick Village square, has recently been developed to offer luxury accommodation to students. The site comprises 36 studios, five of which are accessible, and 14 cluster beds arranged across three flats. The site, which is currently used for student accommodation is on the market for £6,900,000.
The sale is being marketed by Vicky Pember, Keller Williams Estate Agency, that say the site would lend itself to serviced accommodation - subject to appropriate consents. The campus is 1.6 miles away from Bristol Parkway and less than half a mile away from Filton Abbey Wood which provides a 10 minute train into Bristol city centre. The M4/M5 motorway network is around 5 miles from the property.
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The nearby Filton Enterprise Area is the home of innovative aerospace and aviation technology. The presence of Airbus, Rolls-Royce, and GKN have sealed Filton's status as a business hub for various sectors. The property is set on the Square at Cheswick Village which offers a large bustling coffee shop, a gym, wine bar, takeaways, and a Co-op store.
Ms Pember said: "Student accommodation certainly wasn’t like this when I was at University! These really are luxury studios and the finish is stunning. Cheswick village also has a lovely feel to it - everything you need on hand but only a short distance from the City Centre. With the crisis in supply of student accommodation in Bristol this is a real asset for the City and for students at the University of the West of England."
Net operating profit of £421 032 per annum. It has been on a nomination agreement with the University of the West of England but this year will be direct let with a local agent to maximise returns. UWE are open to negotiating a new nomination agreement with the buyer going forward.
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