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Agent's details

Wells Terrace and Wells Court, Hearsall Lane, Earlsdon, Coventry

For sale: £5,000,000.00

Property details

FOR SALE£5,000,000.00
ADDRESSWells Terrace and Wells Court, Hearsall Lane, Earlsdon, Coventry
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON22nd December 2020

Description

FOR SALE

FREEHOLD STUDENT INVESTMENT

The properties are located fronting Hearsall Lane (B4101) to the north of the popular Coventry suburb of Earlsdon. The properties are very well located, being easily accessible to Earlsdon Village centre, along with easy access to Coventry City Centre just under a mile distant. The properties have the benefit of a bus stop immediately in front of the property on Hearsall Lane providing excellent public transport links to Warwick University, Coventry City Centre and Coventry University.

Wells Terrace and Wells Court are purpose built student accommodation facilities.
Wells Terrace was completed circa 5 years ago and Wells Court was completed circa 18 months ago.

Wells Terrace
Wells Terrace comprises 8 cluster flats arranged across 6 x 8 bed and 2 x 9 bed blocks. Each unit has a combined kitchen/dining area and 3 shower rooms.

Wells Court
Wells Court is a newly completed student facility of 28 beds arranged over 5 cluster flats. Rooms to the upper floors have ensuite bathrooms with shared kitchen and living areas.

The rooms on the ground floor have shared kitchen, living areas and bathrooms.
Both Wells Terrace and Wells Court benefit from broadband to each bedroom and to all communal areas.

Facilities are heated by way of gas central heating and windows are triple glazed.

To the rear of Wells Terrace there is parking for approximately 10 vehicles. Bicycle
parking is also available onsite.

Wells Terrace currently has an agreement in place with two years remaining with Warwick University Accommodation Services. Wells Court has a contract in place until the end of this academic year. There will not be a renewal of this agreement with Warwick University Accommodation Services and therefore, there will be potential for in-house management and an increase in the net rental income.

Current Income
The current income from Warwick University is £367,814 per annum. Estimated rental Value of circa £500,000 per annum assuming managed in-house.
( Agency Pilot Software Ref: 2548 )

Location

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Location: Wells Terrace and Wells Court, Hearsall Lane, Earlsdon, Coventry

Canley (0.8 miles)

Coventry (0.8 miles)

Tile Hill (3.0 miles)

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