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Moray College UHI Elgin, IV30 4JN

sq ft Investment

Freehold Property to buy in Elgin

Modern purpose built student accommodation.

Key points

  • Excellent opportunity to acquire two purpose-built student accommodation (PBSA) properties on an income strip.
  • Located within the Moray and Highland regions of Scotland – Nairn and Dornoch – the sites offer strong communication links via the nearby A9 and A96 trunk roads.
  • Each property provides 40-beds within cluster flats (38-beds) and studios (2-beds).
  • Let to the University of the Highlands and Islands on 35 year lease terms, expiring in 2052, with no breaks.
  • Total current passing rent of £280,028 following August 2018 RPI uplift.
  • Both leases benefit from annual rent reviews on a RPI linked basis, subject to a collar of 0% and cap of 5%.
  • Attractive running yield profile over the lease term.
  • We are instructed to seek offers in excess of £5,025,000 (exclusive of VAT) for the benefit of the income produced. A purchase at this level would provide an attractive net initial yield of 5.25% following an allowance for purchasers costs of 6.11%..

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