Location

Aberdeen is a port city in North East Scotland, where the Dee and Don rivers meet the North Sea.

It is Scotland's third most populous city, with an estimated population of 200,680.

It is also known as the 'Granite City' for its many enduring grey-stone buildings. The 19th century Marischal College is typical - a monumental Victorian landmark that is now the headquarters of the City Council.

Aberdeen Railway Station has direct links to Edinburgh (2 hours), Glasgow (2.5 hours) and London (6.5 hours).

The city is well connected to the rest of the UK, via the A90, which connects into the main UK motorway network.

Situation

The property is ideally located to the south west of the city centre, midway between the University of Aberdeen, which is located north of the city centre, and Robert Gordon University, which is located to the south west of the city, close to the River Dee.

• University of Aberdeen: 25 minutes bus
• Robert Gordon University: 20 minutes bus
• Aberdeen Train Station: 10 minute walk
• City Centre: 5 minute walk
• Bus stop with routes to both universities: 2 minute walk

Majority of private student accommodation are located towards the north of the city around the University of Aberdeen. There is a lack of PBSA near RGU. ABeleven is ideally located and is within easy access of RGU and the city centre.

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Description

ABeleven is a purpose-built student asset comprising 214 ensuite rooms within 33 cluster flats and 8 studio apartments, arranged over lower ground, ground and three upper floors. Rooms are fully furnished, complete with study area and superfast Wi-Fi.

In addition, there are social facilities, court yard gardens and parking facilities for 23 cars, 9 motorcycles and 74 bicycles.

The property is operated by U-Student, a well established high specification student operator that has owned/managed student residences across the north of the UK since 2003.

ABeleven is just a short 5 minute walk from the city centre. Situated on Willowbank Road, ABeleven serves both Robert Gordon University and the University of Aberdeen.

The scheme offers a mix of accommodation:

• Ensuite room: includes 3/4 double bed, full ensuite bathroom. 15 metres square.
• Studio room includes 3/4 double bed, full ensuite bathroom, fully equipped kitchen. 23 metres square. Dual occupancy is permitted in these rooms.

Other amenities include:

• Social Space
• Fully equipped kitchen
• Breakfast Bars
• Laundry
• CCTV fully secured site
• Car Parking
• Bike Storage
• Lift
• Key Card System

Planning

Planning permission was granted on the 17th September 2015 (Application Ref No P151074) for the demolition of garages and the erection of student residencies containing 33 cluster flats with new vehicle access, associated parking and landscaping.

Floor Plans

Further information can be found with the marketing particulars.

Tenure

Heritable

Tenancy

Rental Income

Currently 89 of the bedrooms are let for the academic year 2019/2020. The total gross income is £539,060.

Assuming the property has reached 100% occupancy based on the current academic year's quoting rents, the gross income would be £1,230,289.

A breakdown of this is summarised in the link below.

Operator

Upon a sale, the buyer will need to introduce their own operating platform. We will be able to assist with this, if required.

U-Student Group currently operates the scheme and is a leading provider of high-quality accommodation. Formed in 2003, U-Student has a close relationship with The Robert Gordon University.

U-Student, as the existing operator, will provide a smooth transition for handing over the operations.

Covenant Information

The University of Aberdeen was voted the Scottish University of the Year from 2018-19 by the Times Good University Guide. The University is developing a new £35 million science teaching hub, due to open in the first half of 2021 and has committed to a £100 million regeneration of its Old Aberdeen campus.

Robert Gordon University has gone up 13 places in the Times University Ranking 2020, which is the product of rising student satisfaction, development of new flexible courses focusing on employment and its new Student Mental Health Agreement. Applications are up during the latest admissions cycle. The University has been developing new, more flexible course models focusing on employability.

Further information regarding the University of Aberdeen and Robert Gordon University can be found in the link below.

VAT

The sale is not subject to VAT.

Data Room

Available on request.

Inspection

By appointment only.

EPC

D51

Services

Mains gas, electricity, water and drainage are connected to the premises. 100Mbps Wi-Fi Internet is provided. The property benefits from a secure access card entry system to the main block and individual rooms.

Method of Sale

Available by means of private treaty although we reserve the right to conclude via means of informal tender.

Proposal

Offers are invited for the heritable interest.

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