Modern purpose built student accommodation.
The property comprises purpose built student accommodation of modern construction in excellent condition. Only recently reaching practical completion in 2017 the building has a mixture of timber effect rainscreen cladding and white render finishes, under pitched and slated roof coverings. All windows are double glazed set within aluminium clad timber frames. The unit extends over ground and first floor levels and provides 40-beds (38 x En-suite Cluster Flats & 2 x Studio Apartments) internally each with a bed, bedside table/fitted unit, workstation, study chair, wardrobe, drawers, shelf, mirror and notice board. Each cluster flat benefits from a communal kitchen, lounge and dining room.
Elgin is the administrative and commercial centre for Moray. The city lies 66 north-west of Aberdeen and 39 miles north-east of Inverness and benefits from being located on the A96 trunk road which links the cities of Inverness and Aberdeen. The A96 runs from Raigmore Interchange at Inverness to Haudagain Roundabout at Aberdeen, passing through various towns and villages along the route. Transport Scotland plans to upgrade 86 miles of single carriageway along the A96 to dual carriageway by 2030 in order to improve connectivity and deliver economic growth. More specifically, the subject property is located within the Bishopmill district of north Elgin approximately 2 miles north of the city centre.
Lengthy income strip investment offering circa 34.5 years unexpired term certain. Lease benefits from annual RPI-linked rent reviews with a collar of 0% and cap of 5%.
Elgin (1.1 miles)