crane court - prime uk property

HUDDERSFIELD

CRANE COURT

P26-27

HUDDERSFIELD

CRANE COURT, HUDDERSFIELD2 3

P30-31P28-29

PURCHASE PROCESS OPTIONS

UK STUDENTMARKET

HUDDERSFIELD

CRANE COURTP4-5 P8-9

P10-11 P12-13

P18-19P14-17 P20-21 P22-25

P6-7

INVESTMENT OVERVIEW

RENTALASSURANCE

PROPERTYSPECIFICATION

LOCATION

THEDEVELOPER

SUPPLY VDEMAND

RENTALMANAGER

HUDDERSFIELD EDUCATIONAL INSTITUTIONS

P32-33

PRICE LIST

DISCLAIMER


INVESTMENTOVERVIEWCrane Court is a new purpose built student accommodation development, bringing 252 luxury studio apartments to the heavily undersupplied student accommodation market in Huddersfield.

£57,995

APARTMENTS FROM

9%NET RENTAL RETURN

5 YEARRENTAL

ASSURANCE

EXPERIENCED OPERATOR

Q3 2018

COMPLETION SCHEDULED

5%INTEREST ON

DEPOSIT

LEASEHOLD TENURE

250-YEAR LEASE

48,000MORE THAN

STUDENTS IN HUDDERSFIELD


PRICELIST

FLOOR

1 £57,995 £58,495 £58,495

2 £57,995 £58,495 £58,495

3 £59,995 £60,495 N/A

4 £61,995 £62,495 £62,495

5 £61,995 £62,495 £62,495

6 £62,995 £63,495 £63,495

7 £64,995 £65,495 £65,495

8 £65,495 £65,995 £65,995

9

10

£65,995

£66,495

£66,495

£66,995

£66,495

N/A

TOWN SIDESTUDIO

WATER SIDESTUDIO

ACCESSIBLETOWN SIDE STUDIO


TOWN SIDESTUDIO

WATER SIDESTUDIO

ACCESSIBLE TOWN SIDE

STUDIO

£5,219.55

£57,995

£26,097.75 £26,322.75 £26,322.75

PROPERTY TYPE

RENTAL ASSURANCE*

TOTAL PROJECTED RETURN

9% NET

45% ROI**

45% ROI**

45% ROI**

9% NET 9% NET

£5,264.55

£58,495

£5,264.55

£58,495

PER ANNUMFOR

5 YEARS

RENTAL RETURN RENTAL RETURN RENTAL RETURN

PER ANNUMFOR

5 YEARS

PER ANNUMFOR

5 YEARS

(BASED ON APARTMENT 1.25)



RENTAL ASSURANCECrane Court provides purchasers with a 9% NET rental return, complete with a 5 year rental assurance*.

* The developer is contracted to provide the rental assurance, details of which will be confirmed by the solicitors acting for the purchaser

** ROI - Return on investment


PROPERTYSPECIFICATION

RECEPTION AREA &

LAUNDRY FACILITIES

CARPARKING GAMES ROOM,

CINEMA ROOM & GYM

FURNISHED INCLUDING

DOUBLE BED

EN-SUITESHOWER ROOM& KITCHENETTE

252 STUDIOAPARTMENTS

NEXT TO KIRKLEES COLLEGE

0.49 MILES FROM UNIVERSITY OF HUDDERSFIELD

WATERSIDE LOCATION


LOCATION

1

2

3

4

5

Manchester Road,Huddersfield

24,920 Students

0.6 Miles

Direct routes to Manchester, Liverpool, Leeds

& Newcastle

18,000 Students

CRANE COURT,HUDDERSFIELD

UNIVERSITY OFHUDDERSFIELD

WALK TOUNIVERSITY

HUDDERSFIELDSTATION

KIRKLEESCOLLEGE

HUDDERSFIELD NEW COLLEGE

205 metres

0.40 miles

0.49 miles

0.51 miles

0.52 miles

2.16 miles

1

4

2

5

3Kirklees College

Greenhead College

University ofHuddersfield

HuddersfieldTrain Station

Huddersfield New College

KingsgateShopping Centre


DEMAND VSSUPPLY

ONLY 5,919+ BEDS AVAILABLE

10,773 FULL-TIME STUDENTS NEED ACCOMMODATION

HUDDERSFIELD IS FORECAST TO BE UNDERSUPPLIED BY c.4,854 BEDS

All information collated on 04/11/16 and was correct at the time of publication

Crane Court

Snow Island

Big Aspley

Little Aspley

Saw Mill

Knightsbridge

Cormorant House

Ashenhurst Houses

Kingfisher Court

Storthes Hall Park

Firth Point

Castings House

Palace Studios

Huddersfield Central Living

Huddersfield Waterfront (Planned)

Kirkgate Residence

TOTAL

252

427

471

256

378

653

168

13,800Full-time Undergraduates

279

1,590Full-time Postgraduates

252

15,390Total Full-time Students

1,386

4,617Distance Students = 30%

196

10,773Suggested Number of Students Requiring Accommodation in Huddersfield

653

110

34

304

100+

5,919+

SUPPLY

DEMAND

With a large student population and a limited number of purpose built student accommodation available, Huddersfield is facing a continuing undersupply of student accommodation.

CRANE COURT, HUDDERSFIELD16

COMPARABLEACCOMMODATION

17

CRANE COURT

All information collated on 04/11/16 and was correct at

the time of publication

WEEKLY RENT:FROM £135

BIG ASPLEYHOUSE

(BRONZE)

BIG ASPLEYHOUSE(SILVER)

FROM£189.00

FROM£115.00

51WEEKS

44WEEKS

SOLD OUT(2016/17)

AVAILABLE(2016/17)

LITTLE ASPLEYHOUSE

(BRONZE)

LITTLE ASPLEYHOUSE

(SILVER PLUS)

FROM£183.00

FROM£119.00

51 WEEKS

44 WEEKS

SOLD OUT(2016/17)

SOLD OUT(2016/17)

BIG ASPLEYHOUSE(SILVER)

BIG ASPLEYHOUSE

(SILVER PLUS)

FROM£199.00

FROM£125.00

51WEEKS

44WEEKS

SOLD OUT(2016/17)

SOLD OUT(2016/17)

SAW MILL(CLASSIC)

SAW MILL(CLASSIC)

FOR£175.00

£122.00

£114.00

51WEEKS

44 WEEKS

51 WEEKS

SOLD OUT(2016/17)

AVAILABLE(2016/17)

CASTINGS HOUSE(SILVER)

CASTINGS HOUSE(SILVER PLUS)

FROM£155.00

FROM£125.00

51WEEKS

44WEEKS

SOLD OUT(2016/17)

AVAILABLE(2016/17)

TENANCY LENGTH:51 WEEKS

STUDENT STUDIOS

STUDENT STUDIOS EN-SUITE ROOMS


THE DEVELOPER

KINGFISHERCOURT

APPLETONPOINT

HUDDERSFIELD BRADFORD

PREVIOUS MEDERCO DEVELOPMENTS:

The developer of Crane Court is Mederco; incorporated in 2011 specifically for developing high quality student accommodation.

The company sits alongside Rainbow Homes Ltd., which develops residential housing in the North and North West England and has become one of the leading and fastest growing house builders in the area.

Mederco has stood behind a number of high profile student accommodation developments in the North of England in recent years, with Appleton Point in Bradford and Kingfisher House in Huddersfield providing new accommodation in undersupplied markets.

With Crane Court, Mederco is set to build on their portfolio in Huddersfield, helping to provide new accommodation to meet supply in this growing university town.

Located in one of Bradford’s most desirable student areas, Appleton Point provides 160 student studio apartments for the city and

was completed in 2014.

Providing 252 purpose built student sudio apartments in Huddersfield, Kingfisher Court is due to complete in Q1 2017, ready for the

2017/18 academic year.

EMPRESS MILLS

STATION COURT

28 high specification houses and 12 luxury apartments, converted from a former mill

Residential development of 15 apartments and 24 houses

TRAWDEN, LANCS. THORNE, DONCASTER


RENTALMANAGER

Rent on Time will be acting as the rental managers for Crane Court, following their success at the Studio 8 developments in Bolton and Barnsley.

Their management service is designed to offer you peace of mind, making sure that all stages of the tenancy process are taken care of.

All of their staff hold National Federation of Property Professionals (NFOPP) qualifications and they are members of the Property Ombudsman.

Rent on Time’s Rental Insurance, underwritten by Europe’s second largest insurer, provides you with a safety net when it comes to recovering rent.

They work hard to make sure that your unit is occupied at all times, with properties advertised on the UK’s largest property websites including Rightmove, Zoopla and PrimeLocation.

23

KINGFISHERCOURT

RESIDENTIALAPARTMENTS

STUDIO 8AT PROVINCIAL

HOUSE

HUDDERSFIELD BOLTON CARDIFF

DEVELOPMENTS MANAGED:

All 68 studios were reserved within 7 weeks of marketing. The average rental price in the Bolton for a 2-bed is

£450 a month. They achieved rents up to £595 a month

for a studio without parking facilities.

All 94 units at the development were occupied

within 6 weeks of completion. Through their contract with

an international student referral company, they can

ensure the best possible rent for the area.

Rent on Time have been signed up as the rental

managers for Mederco’s latest student development, Kingfisher Court. They have

already started their marketing process to ensure maximum

occupancy for the start of the 2017/18 academic year.



OASTLER BUILDING£27.5MHOME TO LAW SCHOOL,

SCHOOL OF MUSIC, HUMANITIES AND MEDIA

1825EST

24,920STUDENTS ENROLLED

OF STUDENTS ARE FROM OVERSEAS

13%

£80MINVESTED OVER THE LAST 10 YEARS AND FURTHER

£100M PLANNED

RANKED 6TH IN THE UK FOR ITS GRADUATE LEVEL EMPLOYMENT,

HIGHER THAN OXFORD OR CAMBRIDGE

Located in the heart of the town centre, the University of Huddersfield has nearly 25,000 students enrolled in courses at the institution.

1st

IN ENGLAND FOR PROFESSIONALLY QUALIFIED

TEACHING STAFF 2016


KIRKLEESCOLLEGE

2008EST

18,000STUDENTS ENROLLED

ONE OF THE BIGGEST

COLLEGES IN THE UK

OFFERS DEGREE PROGRAMMES

ACCREDITED BY THE UNIVERSITY OF

HUDDERSFIELD

NEW £85M CAMPUS

LOCATED NEXT TO CRANE COURT

Standing as one of Huddersfield’s newest architectural landmarks, Kirklees College is one of the town’s primary educational institutions.


HUDDERSFIELD

HUDDERSFIELD IS HOME TO FOUR

MAJOR EDUCATIONAL INSTITUTIONS


KIRKLEESCOLLEGE

GREENHEAD COLLEGE

HUDDERSFIELDNEW COLLEGE

HUDDERSFIELD IS HOME TO NEARLY

STUDENTS

48,700

146,234

HUDDERSFIELD HASA POPULATION OF

10thLARGEST TOWN IN

THE UK

HUDDERSFIELD IS THE

Huddersfield is the 10th largest town in the UK and is located between the Northern Powerhouse cities of Leeds and Manchester.

EXCELLENT TRANSPORT LINKS

VIA RAIL AND ROAD TO:

LEEDS

LONDON

MANCHESTER

SHEFFIELD


UK STUDENTMARKETThe UK has one of the largest and most prestigious university and higher education systems in the world.

With more than 2.3 million students studying in the UK, there is a large demand for student accommodation. According to Knight Frank, there is a ‘structural undersupply of student accommodation within the UK’.

Overseas students are a major driver for Purpose Built Student Accommodation (PBSA), with the size of this group expected to rise by 15-20% in the UK over the next 5 years.

2.3M

1/4

STUDENTS IN THE UK

OF STUDENTS IN THE UK ARE INTERNATIONAL

STUDENTS

NEARLY

600,000APPLICATIONS MADE TO

UK UNIVERSITIESFOR 2016/17

A RECORD


PURCHASE PROCESS

RESERVATION

SOLICITORS INSTRUCTED

EXCHANGE OF CONTRACTS

LEGAL COMPLETION

Reservation form completed & £5,000 non-refundable fee paid and deducted

from the deposit on exchange

Solicitors instructed, legal pack sent out & anti-money laundering

process completed

50% of purchase price paid to solicitors & contracts exchanged within

28 days of reservation

The remaining 50% of the purchase price is paid, the purchase is completed & Title

Deeds registered with the UK Land Registry


DISCLAIMER

33

1. This information is and remains the property of the Master Agent is made available to the addressee subject to the terms and conditions of this Disclaimer. A copy of this information is made available to you for your personal use and must not be given, shared or communicated with any other person except for your own professional advisors for the sole purpose of obtaining their advice.

2. The Agent and the Master Agent endeavour to provide accurate, up to date and complete information but makes no warranties or representations as to the accuracy, reliability or completeness or otherwise of the information contained herein. The Master Agent assumes no responsibility or liability for any omissions or errors contained in the information.

3. The Agent acts as a sub-agent to the Master Agent; specifically, the Master Agent accepts no liability to the Purchaser for fraudulent misrepresentation made by the Agent.

4. The Master Agent acts as an agent for the Developer and as such accepts no liability to the Purchaser. Further and in any event, if notwithstanding this provision liability is established against the Master Agent, then it is agreed that the total maximum amount of such liability is limited to and shall not under any circumstances exceed the amount of the net Reservation Fee of any reservations made.

5. Purchasers are required to conduct their own due diligence and make their own judgement on the property being offered. Purchasers must verify the information and any speculative information offered by the Agent and the Master Agent. Purchasers are

strongly recommended to perform their own financial and legal assessment of any opportunity prior to making any commitment to participate.

6. Neither the Agent nor the Master Agent provides or offers an opinion as to whether a particular property is appropriate for a particular individual and owes no duty of care to the Purchaser.

7. The Agent and the Master Agent, respectively, each offer only an opinion on the opportunity in general terms and in relation to the market as a whole. Neither the Agent nor the Master Agent is able to comment on or give opinions on the strength or validity of any bond or insurance policy and Purchasers are strongly recommended to perform their own diligence and seek legal opinion.

8. Neither the Agent nor the Master Agent accepts any responsibility for amendments to or changes in rates of taxation, introduction of new taxes, changes to existing legislation or the introduction of new legislation or any matters relating to the final contractual arrangements for any purchase.

9. The Purchaser may be liable for property-related taxes in connection with property purchases and ownership in addition to any ongoing personal or corporate taxation which may apply; for the avoidance of doubt, neither the Agent nor the Master Agent shall have any liability for such taxes.

10. Where rental assurances or guarantees are offered as part of the purchase, the Developer will contract directly with the Purchaser to assure the rental income at the specified rate and for the specified duration, but this is not supported by an insurance policy, bond

or bank, unless specified, nor is this warranted or supported by the Agent or the Master Agent.

11. Descriptions of property, homes, buildings, locations or Development particulars, specifications and pictures and artists impressions of any property, home, building, location or Development are given in good faith and believed to be correct, but they do not form part of any offer or solicitation and are intended only as a general guide. Neither the Agent nor the Master Agent controls the building or development of any project.

12. All descriptions are intended only as a general guide and are not to be relied upon by the Purchaser or by any other interested parties as a statement or representation of fact and the Purchaser or any interested parties should satisfy themselves by inspection or otherwise.

13. The Purchaser acknowledges that Developers reserve the right to alter plans, designs and specifications at any time without prior notice. Therefore, neither the Agent nor the Master Agent will be responsible for such changes.

14. The Agent and the Master Agent have endeavoured to provide the highest quality information, backed up by substantial experience and proven evidence from the marketplace. However, individual interpretation of information may vary, and individual circumstances, skills, abilities, knowledge and attitude play an important part in achieving a particular outcome. In addition, the future behaviour of the property market may not follow past experience, either, internationally, nationally or locally. For this reason, Neither the Agent nor

the Master Agent warrants, guarantees or promises that Purchaser will make a profit from any property transaction entered into, whether as a result of acting on information contained within this document or otherwise. As with any purchase, this may result in a loss.

15. Where applicable, as in the case of a consumer and not a business customer (“Consumer”) the Consumer Protection from Unfair Trading Regulations 2008 and the Consumer Protection (Amendment) Regulations 2014 (singly or together the “CPR”) which prohibit unfair practices, shall apply. To satisfy the obligations under the CPR, the sales particulars have been prepared by the Master Agent upon the instruction of the Developer and in accordance with these Regulations. The sales particulars are produced in good faith and are not intended to form part of a contract. Where the CPR apply, the Consumer may, without giving reason, cancel this Agreement within 14 (fourteen) days from the day it was signed. Such cancellation must be in writing and may either be in the Consumer’s own words, or he / she may ask the Master Agent for a form of cancellation notice. For the avoidance of doubt, if the Consumer cancels, the Developer must re-pay the Reservation Fee to the Consumer

16. Neither the Agent nor the Master Agent is authorised or regulated by the Financial Conduct Authority (“FCA”) and as such neither is permitted to offer financial advice about investments, whether regulated or unregulated; accordingly, neither the Agent nor the Master Agent offers financial advice. In case of queries or doubt, Purchaser and any other interested parties should consult an FCA-regulated Independent Financial Advisor.

crane court - prime uk property

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