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Available

Darley Bank Derby, DE1 3PF

sq ft

Sale

Rare Student Accommodation Long Term Investment Opportunity

Key points

  • Rare opportunity to acquire a freehold, high-quality student accommodation asset situated in Derby
  • Darley Bank comprises a modern, cluster-led purpose-built student accommodation scheme with 14 studios and 391 cluster bedrooms
  • Located on Brook Street, its prime situation offers easy access to the University of Derby and Derby City Centre
  • The poroperty is let for a term certain of 28 years and 6 months, offering secure, index-linked income
  • Rent is reviewed annually in line with RPI, with a collar of 2% and a cap of 4% respectively
  • Let to Derbyshire Student Residences Limited with the University of Derby acting as guarantor, both benefitting from a Dun & Bradstreet Ratings of 5A1
  • Current passing rent of £1,177,335 (effective 1st September 2020) reflecting a rent cover ratio (on the basis of direct let) of approximately 1.5 times
  • Underpinned by a strong vacant possession, direct let value reflecting c.95% of the property's market value
  • University of Derby rated Gold in the Teaching Excellence Framework
  • The University of Derby has seen student population growth of 25% over the five years to 2018/2019

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