Studio flat for sale

>

Studio flat for sale

Student Housing Development, 73 Monk Street, Derby, DE22 3QE
£1,000,000

Our Summary

  • The site is currently subject to a planning application (decision Pending) for the demolition of existing car showroom and erection of a three to six storey block for use as student accommodation (102 rooms in 16 cluster flats)
  • There is a real opportunity for the developer to deliver the project as a direct let PBSA block to the University
  • Planning permission for 102 Bedroom PBSA (decision pending)
  • Potential to be direct let to University of Derby

Description

This prime 0.203-acre development site in Derby is up for sale, with a planning application pending for the demolition of an existing car showroom and construction of a three to six-storey student accommodation block. The proposed development would feature 102 rooms in 16 cluster flats, with en-suite bedrooms and kitchenettes. The site benefits from a prime location fronting the A601 Inner City Ring Road and is within walking distance of Derby City Centre, with excellent public transport connections to the University of Derby. The University, which has a main campus nearby, is known for its modern and high-quality accommodation and may be interested in a direct let for the proposed PBSA block. The vendor invites unconditional offers in excess of £1m for the freehold interest, with the transaction expected to be completed by way of a sale of the shares of the SPV.