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PBSA 99 Borron St 454 Unit Dormitory $131,066,481 CAD ($288,693 CAD/Unit) 6% Cap Rate Glasgow G4 9XF
Investment Highlights
- Opportunity to forward fund a large scale PBSA development in a chronically under supplied market.
- Rents pitched at an affordable and sustainable level, 20%+ discount to prime city centre.
- Comprising 454 beds: 197 studios and 257 cluster ensuites.
- Exceptional green credentials, including 'BREEAM Very Good' and 'EPC A' ratings. The scheme will boast air source heat pumps and roof-mounted solar photovoltaic panels.
- Attractive capital rate of £158k per bed.
- Unique campus-style living experience, unlike any other scheme in the city.
- Unrivalled amenity space provision. Total amenity space per bed = 9 sq m.
- The scale of international student demand in Glasgow is the second highest in the UK (excluding London).
Executive Summary
Seeking offers on a traditional forward funding structure in excess of £71,780,000 exclusive of VAT. A purchase at this level would represent a Net Initial Yield of 6.00% and based on NOI projections would have strong reversionary potential.
Consideration will also be given to a site sale.
The consented scheme will provide a new purpose built student residence development comprising 424 new student beds, while prioritising the quality of both internal and external amenity spaces (9 sq m per bed space). The design will foster a sense of community, promote well-being, and provide various opportunities for social interaction and relaxation. Given the campus style living approach, this will allow for a diverse student population and will consider their needs for privacy, study, and recreation.
The project will deliver a vibrant, inclusive, comfortable, and sustainable living environment for students.
Consideration will also be given to a site sale.
The consented scheme will provide a new purpose built student residence development comprising 424 new student beds, while prioritising the quality of both internal and external amenity spaces (9 sq m per bed space). The design will foster a sense of community, promote well-being, and provide various opportunities for social interaction and relaxation. Given the campus style living approach, this will allow for a diverse student population and will consider their needs for privacy, study, and recreation.
The project will deliver a vibrant, inclusive, comfortable, and sustainable living environment for students.
Property Facts
| Price | $131,066,481 CAD | Property Subtype | Dormitory |
| Price Per Unit | $288,693 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 2.69 AC |
| Cap Rate | 6% | Construction Status | Proposed |
| Tenure | Freehold | Building Size | 100,000 SF |
| No. Units | 454 | No. Stories | 5 |
| Property Type | Multifamily | Parking Ratio | 0.12/1,000 SF |
| Price | $131,066,481 CAD |
| Price Per Unit | $288,693 CAD |
| Sale Type | Investment |
| Cap Rate | 6% |
| Tenure | Freehold |
| No. Units | 454 |
| Property Type | Multifamily |
| Property Subtype | Dormitory |
| Building Class | B |
| Lot Size | 2.69 AC |
| Construction Status | Proposed |
| Building Size | 100,000 SF |
| No. Stories | 5 |
| Parking Ratio | 0.12/1,000 SF |
Amenities
Site Amenities
- Bicycle Storage
- Car Charging Station
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 454 | - | - |
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PBSA | 99 Borron St
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