Student accommodation scheme hits the market
Christian Grant Properties has instructed CBRE to sell Cheswick Campus, a new 50-bed student accommodation development close to the University of the West of England (UWE)’s main site at Frenchay, Bristol.
Cheswick Campus benefits from a nomination agreement with the university with a rent of £499,898 per year – plus the option to extend for five years. Increased rental income is currently being negotiated for 2023 / 24 for a 10% increase.
The largest privately owned student scheme in the area, the self-contained block was completed in September and comprises 36 studios plus 14 cluster beds arranged over the lower ground, ground and first floor. An undercroft car park has six allocated spaces plus 50 cycle hoops.
The development is situated on the Square at the heart of Bristol’s new Cheswick Village development, where amenities include a coffee shop, post office, supermarket, gym, salon/wine bar and takeaway restaurants.
“As well as just a 10-minute walk from the main university site, the range of amenities in the immediate vicinity makes Cheswick Campus a popular option for prospective students,” said Nick Reed, director at CBRE’s South West capital markets team.
“The rent guarantee from UWE plus the location and size of this brand new development makes this an attractive opportunity to acquire student accommodation at the biggest university in Bristol – and one of the largest in the South West region.”
