Norfolk Park Student Residence
Norfolk Park Student Residence was initially sold by Sheffield Hallam University to a property developer who planned to market units, with a guaranteed rental income, to individual investors. Having acquired the site, the developer subsequently went into administration and the opportunity to acquire Norfolk Park was bought to the attention of RPS Capital Partners by the receiver, Allsops, who was acting on behalf of a bank.
RPS Capital Partners appraised the opportunity and, having carried out due diligence, purchased the freehold for each of the 113 properties, which are located on an 8 acre site. 41 of the properties were previoulsy sold to individual investors on long leases and RPS is currently in the process of correcting defective leases and implementing the practice of sound estate management for the entire site.
The development, which is only a 10 minute walk from the university campus and the city centre, provides contemporary student accommodation which is specified to a high standard, including 24 hour on-site security, fast internet access, laundry and fitness facilities.
Full details about this development can be found at www.norfolkparksr.co.uk
As a cash buyer, RPS Capital Partners was able to appraise the opportunity and complete the deal quickly, without encountering any unnecessary delays. This deal generated a positive outcome for the bank, receiver, university, students and, of course, RPS Capital Partners!
Springfield Mill
Springfield Mill is a stunning red brick mill dating back to 1888, which is located on the banks of the Erewash canal in Sandiacre, Nottingham.
Originally purchased and developed by City Lofts plc, it has been restored to a high standard with interior design being undertaken by Conran & Partners and comprises 105 one and two bedroomed flats and top floor duplexes, with each typically achieving highly competitive rents per month. Further information about Springfield Mill is available at www.springfield-mill.co.uk
16 of the apartments have subsequently been sold on long leases and RPS Capital Partners bid for and successfully acquired the freehold and remaining 89 flats, at a discount to open market value.
This type of yield bearing investment opportunity is another good example of the way in which we are able, as a cash buyer, to quickly evaluate and complete deals to the benefit of all parties.
St Margaret's Flats
St Margaret's flats is a development comprising of 22 student flats, located in the attractive development of St Margaret's which is a conservation area in the City of Durham.
The flats provide student accommodation primarily for St John's College, although students from other colleges are also able to apply for places.
The 22 flats are located in five adjoining houses and each flat, which is approximately 90 square metres in size, has 5 bedrooms. Each house has a living room and kitchen area and provides students with comprehensive facilities including on-site laundry and high speed broadband internet access. Key pad and phone security systems have also been installed and the flats have the benefit of on-site management. Rooms are typically let for 50 weeks a year at a rental of £68 per week.
RPS Capital Partners Ltd purchased the development from St John's College in March 2010 and plans to comprehensively refurbish the development over the course of the next 3 years. Further information about St Margaret's Flats is available at: www.crm-students.com/student-accommodation/uk/durham/41/st-margaret-s-flats/1/
The St Margaret's Flats development in Durham is a good example of the type of student accommodation development which RPS Capital Partners Ltd is able to acquire and redevelop, to the benefit of both students and the university.
Norfolk Park Student Residence
Norfolk Park Student Residence was initially sold by Sheffield Hallam University to a property developer who planned to market units, with a guaranteed rental income, to individual investors. Having acquired the site, the developer subsequently went into administration and the opportunity to acquire Norfolk Park was bought to the attention of RPS Capital Partners by the receiver, Allsops, who was acting on behalf of a bank.
RPS Capital Partners appraised the opportunity and, having carried out due diligence, purchased the freehold for each of the 113 properties, which are located on an 8 acre site. 41 of the properties were previoulsy sold to individual investors on long leases and RPS is currently in the process of correcting defective leases and implementing the practice of sound estate management for the entire site.
The development, which is only a 10 minute walk from the university campus and the city centre, provides contemporary student accommodation which is specified to a high standard, including 24 hour on-site security, fast internet access, laundry and fitness facilities.
Full details about this development can be found at www.norfolkparksr.co.uk
As a cash buyer, RPS Capital Partners was able to appraise the opportunity and complete the deal quickly, without encountering any unnecessary delays. This deal generated a positive outcome for the bank, receiver, university, students and, of course, RPS Capital Partners!
Springfield Mill
Springfield Mill is a stunning red brick mill dating back to 1888, which is located on the banks of the Erewash canal in Sandiacre, Nottingham.
Originally purchased and developed by City Lofts plc, it has been restored to a high standard with interior design being undertaken by Conran & Partners and comprises 105 one and two bedroomed flats and top floor duplexes, with each typically achieving highly competitive rents per month. Further information about Springfield Mill is available at www.springfield-mill.co.uk
16 of the apartments have subsequently been sold on long leases and RPS Capital Partners bid for and successfully acquired the freehold and remaining 89 flats, at a discount to open market value.
This type of yield bearing investment opportunity is another good example of the way in which we are able, as a cash buyer, to quickly evaluate and complete deals to the benefit of all parties.
St Margaret's Flats
St Margaret's flats is a development comprising of 22 student flats, located in the attractive development of St Margaret's which is a conservation area in the City of Durham.
The flats provide student accommodation primarily for St John's College, although students from other colleges are also able to apply for places.
The 22 flats are located in five adjoining houses and each flat, which is approximately 90 square metres in size, has 5 bedrooms. Each house has a living room and kitchen area and provides students with comprehensive facilities including on-site laundry and high speed broadband internet access. Key pad and phone security systems have also been installed and the flats have the benefit of on-site management. Rooms are typically let for 50 weeks a year at a rental of £68 per week.
RPS Capital Partners Ltd purchased the development from St John's College in March 2010 and plans to comprehensively refurbish the development over the course of the next 3 years. Further information about St Margaret's Flats is available at: www.crm-students.com/student-accommodation/uk/durham/41/st-margaret-s-flats/1/
The St Margaret's Flats development in Durham is a good example of the type of student accommodation development which RPS Capital Partners Ltd is able to acquire and redevelop, to the benefit of both students and the university.