Key Features

• A rare freehold PBSA opportunity in Bath, one of the UK’s best performing student markets.
• Completed in 2022 to a high specification, comprising 63 generous ensuite rooms (14.9 sq m) and associated kitchen/lounge rooms sizes arranged in 5-7 bed clusters.
• The University of Bath and Bath Spa University have both been successful in increasing their student numbers significantly over the last five years.
• Bath has 27,726 full time students of which 5,097 (18%) are international.
• Bath is structurally undersupplied with only 2,516 (9.1%) of students able to access privately operated PBSA and reflects one of the highest student to bed ratios in the UK standing at 2.92:1.
• Very limited private sector competition, with only 786 Direct Let PBSA beds in the city, as a result of a highly restrictive planning environment and an Article 4 directive restricting HMOs.
• Rental growth of 19.7% for the past five years, fuelled by a growing student population and limited PBSA development.
• Fully let in its first and second years since opening in 2022/23, with waiting lists for both years.
• Operated on a direct let basis with all rooms being let for 51 weeks at £270.00 per week inclusive of utilities and wi-fi, equating to a gross rental income of £867,510.
• Total operating budget for 2023/24 stands at £191,185, equating to £3,035 per bed.