Old Bakery Yard, Bath - Student for sale in Bath

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. OVERVIEW High quality 63-bed purpose built student accommodation. As a global commercial real estate services leader with 52,000 professionals worldwide, we will never settle for the world that’s been built, but relentlessly drive it forward for our clients, colleagues and communities.