21 St Thomas Street - Student for sale in Bristol

21 St Thomas Street provides a rare prime freehold purpose-built student accommodation (PBSA) opportunity within central Bristol. The property benefits from a lease agreement from the University of Bristol, with annual RPI linked uplifts (collar and cap of 1.50%-5.00%) expiring in 2036. The University agreement reflects a rent of £203 per week (ensuite), with the Direct Let market trading at a 50% premium, therefore offering a significant future reversion. It is an exceptionally well located building directly in between the University of Bristol’s Clifton Campus and their new landmark Temple Quarter Enterprise Campus with excellent city centre amenities on the doorstep. Completed in 2021 to a high specification, comprising 357 beds along with excellent amenity space at 1.8 sq m per bed. Strong ESG credentials including photovoltaic roof panel, connection to the District Heating Network, EPC A rating and BREEAM Excellent in use. The University are charging students £238 per week (ensuite), £250 per week (twodios) and £299 per week (studios). The operating budget for 2025/26 is £1,084,220 equating to £3,037 per bed. Bristol is one of the most undersupplied PBSA markets with the highest student to bed ratio amongst Russell Group cities at 2.9:1 and third highest in the UK, highlighting the chronic lack of supply. The city’s student population increased by 14,960 in the five years to 2023/24 whilst only 1,932 PBSA beds were completed during the same period. Bristol has 19,814 University and private owned PBSA beds as at 2025/26, of which only 4,457 beds are direct let. The city saw the highest levels of rental growth of any student city between 2018/19 and 2023/24 at a CAGR of 4.1% compared to the 2.8% peer group average. Low Capital Value per bed relative to comparables. Freehold OVERVIEW PRIME RPI INDEXED LINKED UNIVERSITY BACKED PURPOSE BUILT STUDENT ACCOMMODATION IN CENTRAL BRISTOL As a global commercial real estate services leader with 52,000 profes