The Pillar Box, Hertford Street, Coventry, CV1 1LA

Located in central Coventry approximately a 5 minute walk from Coventry University.Student accommodation providing a total of 116 bed spaces in 96 rooms with a mix of en-suite and studio bed spaces.Internal Repairing Lease to Coventry University with 18 years unexpired and 3 years to a mutual break clause.The Lease allows for annual upwards only rent reviews to the higher of an average student rent in Coventry or the rent charged to students at the premises.Consistent rental growth at 5.81% compound over the past three years.Annual net income for 2012/13 of £498,550, expected to increase to £527,500 for 2013/14.Freehold. Coventry University is ranked 55th in the sector by the Times Good University Guide 2013.We are seeking offers in excess of £7,000,000 for the freehold interest reflecting a Net Initial Yield of 6.73%. The property is held in an SPV and our clients would consider disposing of the company.

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