October 2021: Tuesday 05 October 2021 - 9:00am
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    Key features

    • Modern three storey student housing block.
    • Leasehold investment producing £984,096 per annum*
    • 36 Cluster flats providing 203 en-suite bedrooms with shared kitchen facilities
    • Within the popular Surrey University Campus
    • Close to the station
    • By order of a Housing Association

    Description

    A modern detached three storey block comprising 36 Cluster Flats in blocks of 6, providing 203 en-suite bedrooms with shared kitchen facilities.

    Virtual Tour - Block 68

    Virtual Tour - Guest Rooms

    Virtual Tour - Block 73

    Additional information

    Tenure

    Leasehold. Held on a 30 year lease to expire on the 04/12/2030. Ground rent a peppercorn.

    Accommodation

    36 Cluster flats arranged as 203 en-suite rooms each sharing a large kitchen diner.

    Car parking to the rear.

    Rent

    *Annual Rent £984,096 per annum (plus 25% of any surplus)

    Notes

    The University collects the rents from the students on behalf of the lessee.

    The lessee is responsible for the ongoing maintenance of the property which includes frequent redecoration and replacement / repair of furniture and fittings where required.

    *The annual rent is calculated using a detailed formula which can vary dependent upon occupancy levels. Payment of annual rent is made in 11 equal instalments, the 12th payment is a balancing payment for the year depending on the total rent collected by the University. Further details can be found in the legal pack. A rental increase to circa £1,023,400 per annum is expected from the 1st September 2021 but has not as yet been confirmed.

    VAT is not applicable to this lot

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      All viewings at this property have now taken place prior to the auction. For further information on the property please download the legal pack or email the property contact.

      Savills are not holding any viewings for this property. For further information please download the legal pack or email the relevant Savills Contact directly.

      Viewings are in the process of being finalised and will be online shortly, please click here for a notification when they go online.

      No set viewings will be available on this property prior to auction due to the tenants in situ. Please refer to the legal pack for further information.

      No set viewings will be available on this property prior to auction due to safety concerns within the property. Please refer to the legal pack for further information.

      There are no formal viewings for this property. You can visit during commercial trading hours as a customer.

      Local information

      The University campus is located just to the north west of the popular county town of Guildford

      The property is situated to the east side of the campus which is the principle student accommodation area and close to the student union.

      The University of Surrey is well-established with a population in the region of 17,000 it ranked 34 in the Complete university Guide 2021

      Guildford town centre is less than a mile to the south east and provides many fashionable shops bars and restaurants.

      Transport is excellent with Guildford Station close by to the south plus swift access to the A3 linking to the M25 - London and Portsmouth to the south.

      There are many recreation and leisure amenities in the area, the River Wey is close by, there are miles of footpath and bridle paths including the North Downs Way and Downs Link.


      Transport

      Guildford Station - National Rail

      Legal documents

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      EPC rating

      If no EPC rating appears please refer to the legal pack.

      Guide prices and common auction conditions

      •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

      •The reserve price is the minimum price at which the property can be sold.

      •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

      •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

      Please note that all prices listed, whether prior to or post auction, are subject to contract.

      The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

      The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

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