Student Accommodation Investment for sale - Stratus, Cross Bedford Street, Sheffield, S6 3BQ

• Rare opportunity to acquire a purpose built student accommodation block, occupying a highly prominent position fronting onto Penistone Road (A61), approximately 1.5 miles north of the City Centre. • The property benefits from excellent transport connections with frequent bus and tram services available from Shalesmoor to the City Centre, Sheffield Rail Station and Meadowhall Shopping Centre. • Sheffield is home to The University of Sheffield (part of the Russell Group) and Sheffield Hallam University with a substantial full time population of more than 60,000. • The University of Sheffield is ranked 20th and Sheffield Hallam University is ranked 82nd in the Times Good University Guide. • Built in 2012, this seven storey development comprises a total of 80 units, arranged as 66 en-suite pods with shared kitchen areas, together with 7 self-contained two bed cluster apartments. • Freehold. • Current gross rent is £274,079 per annum, with rates ranging from £85.00 to £95.00 per week for the en-suites rooms and £120.00 - £130.00 per week for the two bedroom apartments. • There are currently 10 vacant en-suite rooms and one vacant 2 two bed apartment, providing the opportunity to grow the income. • We have been instructed to seek offers in excess of £3,400,000 (Three Million, Four Hundred Thousand Pounds), subject to contract and exclusive of VAT. A purchase at this level reflects a gross yield of 8.06% and a modest capital value per bed space of £42,500.