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KNIGHT KNOX INTERNATIONAL
Knight Knox International provides the information contained within this document as a general guide. This information does not constitute an offer or a contract and we (or anyone in our company) do not imply, make or give any representation, guarantee or warranty whatsoever relating to the terms contained within. Any intending investor must satisfy themselves as to the correctness of any of the statements, plans or images contained within. Images are for representational purposes only. The content contained within is correct adhering to the previous statement at the time of publishing.
INVESTMENT HIGHLIGHTS 10% NET rental returns assured for Year 1 Designed by award-winning architects â€“ Coda Studios Eco-friendly investment (Code 3 on the Code for Sustainable Homes) Unique townhouse design Experienced management and letting agent appointed Located in trendy Kelham Island
DUNFIELDS A truly boutique student residence, Dunfields presents a unique concept in private student accommodation to students studying in Sheffield. Located in the trendy Kelham Island district, the residence will fit comfortably among the trendy new-build apartments and listed buildings which are a main feature of the area. Designed as a block of townhouses grouped around a central park area, the individual buildings will be comprised of either 4 or 5 bedrooms, in addition to a communal floor containing kitchen, dining and lounge facilities.
Containing a total of 82 individual units, each room will be individually styled and furnished to the highest of standards. Students will have a range of options to choose from when picking their rooms, including the choice of a single or double bed, roof garden or patio. With access to private parking and secure bicycle storage, in addition to outdoor gym equipment in the communal garden area, students living at Dunfields can experience the excitement of city living at a fraction of the price.
Built to eco-friendly standards, the entire development will achieve Code 3 on the Code for Sustainable Homes, which is expected to lead to a large reduction in energy bills, further enhancing the rental income of the individual properties.
All living spaces will be fitted with a mixture of British designed retro and reclaimed furniture, bespoke artwork and hi-tech German kitchen and bathroom fittings.
PLANS Dunfields is a completely modern student accommodation concept. Moving away from the traditional form of communal living, the residence is comprised of 18 townhouses, each made up of either four or five rooms and spread over four floors, with one floor in each building dedicated to a communal living/dining area. Each room will be individually styled by Codaâ€™s renowned interior designer Julie Poulter, to create a unique look and feel for each student. A communal garden and outdoor gymnasium will be available to all residents and all units will have different features, including a double bed, patio or roof garden.
18 parking spaces and secure bicycle storage available beneath the houses
INVESTMENT OVERVIEW Purchase Price: Gross Rental Income: Maintenance Fee: Management Fee: NET Income: NET Yield:
£46,000 £5,610 £765 £484.50 £4,260.50 9.3%
(typical after 1-year rental assurance)
Single Room Double Room Single Room (roof garden) Double Room (with door to garden)
£44,000 £46,000 £49,000 £49,500
Below is an example of the projects return-oninvestment from the purchase of a typical double room.
Annual Rental Income
Projected Future Asset Value
Projected Total Value (Asset Value + 5Yr Rental Income)
Comprised of 82 individual units spread across 18 townhouses, there are four different investment options to choose from in Dunfields.
THE UK’S PREMIER PROPERTY CLASS Consistently outperforming all other forms of property investment in the UK, returns in the private student accommodation sector were recorded at an average of 9.6% in 2012, fuelling the continuing development of bespoke, boutique projects through specialist providers like Knight Knox International, to the private investor market. Property experts Knight Frank have estimated that universities will generate more than £500m by 2016 through the disposal of their existing halls of residence, allowing student’s access to a far superior standard of accommodation that they would have previously. Attracted by higher-than-average yields, low void periods and on-site management companies, student accommodation is a completely hands-off investment and the perfect addition to any property portfolio.
“Total capital investment in the sector more than doubled to over 2.7bn pounds in 2012” 9
WHY INVEST IN STUDENT ACCOMMODATION ? Continuing to outperform all other forms of property investment in the UK; private, boutique student residences are one of the most lucrative ways of expanding an investment portfolio, due to the stable yields and low void periods which are common for this type of property. The demand for high quality student accommodation is showing no signs of abating, as UK university places are still heavily oversubscribed with only 10 places available for every 14 applicants, placing university-owned accommodation under an increasing amount of strain, as they struggle to provide the standard of accommodation required in todayâ€™s market place. This trend for a higherstandard of living is fuelled
by the globalisation of the Higher Education market and the increase in the number of students applying to UK universities from outside of the UK. Students from the European Union and overseas currently account for over a sixth of the UKâ€™s student population, with the number of non-domiciled students studying at Higher Education institutions in the UK predicted to rise to 7.6m by the year 2025. Here at Knight Knox International, we pride ourselves on being considered specialists at selling boutique student accommodation to the private investor market, with more than 10 completed, high-yielding developments to our name over the past 18 months alone.
By focussing on regional university locations like Sheffield, we are able to offer investors higher-thanaverage yields in areas that have a severe shortage of private, high-quality residences. Dunfields is our latest boutique student project, identified as a prime investment opportunity and delivered by an experienced developer in the student accommodation market. Average yields for regional cities currently stand at 6-6.5% across the country, but by choosing to invest with Knight Knox International in Dunfields, investors can receive 10% assured NET yields for the first year. Fully managed and designed completely with students in mind.
CITY LIVING: SHEFFIELD Home to nearly 60,000 students, Sheffield has one of the largest student populations in the UK and is one of the most desirable destinations for both under-grad and post-grad applicants in the North.
Set upon the River Don and surrounded by listed factories and workshops, Kelham is a magnet for a multitude of diverse businesses, which are attracted to the area’s industrial chic and young, urban scene.
Once regarded as the steel capital of the world, Sheffield continues to be known as a thriving business hub, attracting companies from around the globe due to its strong economy and high employment rate – an important part of the decisionmaking process when looking for a city to settle in once students have graduated.
The ideal location for students, Kelham is cool and calm with a wide range of coffee shops, eateries and bars, yet sits a mere 200m from the city’s Supertram, giving quick and easy access to the heart of Sheffield and all it has to offer!
Kelham Island: An urban village Dunfields is located in the hip and trendy area of Kelham Island, a fast-growing inner city suburb that is set to become one of Sheffield’s premier residential areas in the next 3-5 years, having undergone an enormous transformation since the late 1990’s.
Within walking distance of both the University of Sheffield and Sheffield Hallam, students living at Dunfields are in the perfect location for work and play, whichever institution they choose. The University of Sheffield • 90% student satisfaction rate in 2011 • UK University of theYear 2011 (Times Higher Education Awards)
CITY MAP 1 5 minutes to Kelham Island Quarter (restaurants, cafes, bars, shopping) 2 20 minutes to the University of Sheffield 3
20 minutes to Sheffield Train Station
22 minutes to Sheffield Hallam University
Distances to major UK cities
Leeds – (35 miles) Manchester – (39 miles) Birmingham – (39 miles) London – (166 miles)
DUN FIELDS 1
FREQUENTLY ASKED QUESTIONS Is the building built? No, Dunfields is a newbuild development designed by the award-winning architects Coda Studios Ltd Am I buying as Freehold or Leasehold? 200 years Leasehold What is the address of the site? Dunfields, Dun Street, Sheffield S3 8SL When will the building be completed? Phase 1 : September 2013 Phase 2 : December 2013
What is the projected annual return after year 1? Currently between 8% to 10% NET (conservative after running costs, management fee, service charges and utilities) Is the sale handled by UK lawyers? Yes, the seller solicitors are HLW KeebleHawsonin Sheffield and the recommended solicitors for purchasers are Blunts of Macclesfield. Both are experienced at handling student accommodation transactions
Are there tenants already in place? No, this is a new-build development
Is there a management company already in place? Yes, the designated management and letting agent will be Sheff-Lets
Is there a rental assurance? NET rental is assured at 10% for year 1, from completion of the purchase
Can I resell my unit? Yes, you can sell at any time after exchange of contract. Knight Knox International has a
dedicated resale site, â€˜studentpodshop.comâ€™ which offers investors an exit strategy for their investment When is my rental income paid? This is paid quarterly in arrears direct into your bank account from completion Can I do anything I want with my room? No, each room will be leased back to the management company on a rolling agreement so that the whole building - in its entirety - can be let as student accommodation Are there any restrictions if I want to sell? Yes, the room has to be sold as student accommodation
PURCHASE PROCESS • Once your unit(s) has been selected with the help of your property consultant, please complete the reservation agreement and return along with a copy of your passport, recent utility bill and your deposit. The bank transfer details will be found on the reservation agreement. • You are required to pay a reservation deposit. • Once your Property Consultant has confirmed they have received your paperwork, you will need to instruct a solicitor. Your consultant will be on hand to help
you with this should you require assistance, as we have a selection of recommended solicitors who are experienced in handling student accommodation investment transactions. • Your solicitor will advise you of the paperwork they will require from you. Please return this promptly to reduce the risk of delays. • Your first installment payment will be made when you exchange contracts. Your solicitor will inform you when they have the date for exchange providing you with an adequate notice period, at the time of
exchange you will also be required to sign and return your contracts. If you are unable to do this due to your location your solicitor will be able to act as your Power of Attorney. Please note that your solicitor may charge a fee for this service. • After you have exchanged contracts you will receive a welcome letter from the developer which will detail the future service they will provide and include all contact details. • Your final payment will be due when construction completes.
Reservation form and deposit of ÂŁ6,800
Solicitor instructed, legals and sales pack sent out
50% of balance on exchange of contracts within 28 days
Remaining balance due on completion of building
(includes Knight Knox International reservation fee)
ABOUT: KNIGHT KNOX INTERNATIONAL
We are a long-standing company (a Ltd company since 2004) with an excellent reputation
We have a large experienced team of over 27 staff, with a collective property experience of more than 200 years
We have exclusive market-leading products that are hand-picked proven investments that sell in volume
We cater to all types of clients, from first-time buyers to large investors, helping build property portfolios and establishing good income returns
We are one of very few companies to experience ‘full market cycles’
We have a global partner network of overseas agents and on-theground specialists
We sell property in over 50 countries worldwide and have local expertise on the ground in every location
Most of all, our clients buy with us again and again because we are honest, experienced, professional and market the best opportunities
“My husband and I have bought many properties now through knight knox international . . . We have a decent portfolio and will no doubt buy more properties with them over the coming years!” Mr and Mrs Lowe, Hong Kong
“It is very refreshing to find a company who keep you informed when they say they will. They know where my interests lie and have always made me aware of opportunities that suit my investment needs” Mr G. Brown, UK
Since its inception in 2003, the award-winning Coda Studios Ltd has overseen 2,100 projects, ranging from small house extensions to multimillion pound developments. Headed by Directors David Cross and Mark Hobbs, Coda architects have designed and developed over 1,200 homes across the North of England, earning them a multitude of accolades, including: • Winner of The Sheffield Telegraph Environment Awards 2009 (Building & Design) • International Green Apple Award (The Built Environment) • Finalist in the RIBA Sheffield Design Awards 2012 • Finalist in the Build-It Awards 2012 (Best Self-Build) Experienced at delivering bespoke, eco-friendly projects to the highest of specifications, the Coda team are passionate about creating sustainable and environmentally friendly architecture.
Crossbow Investments Ltd is the development arm of Coda, designed to seek out and solve complex site issues, creating opportunities for potential investors. Identifying that the Kelham Village area of Sheffield has undergone a huge transformation over the past 15 years with the introduction of numerous restaurants, retail outlets and bars, coupled with the lack of affordable, purpose-built student housing in the city, led to the creation of Dunfields â€“ Sheffieldâ€™s first truly boutique student development.
KNIGHT KNOX INTERNATIONAL
Market Leaders in Worldwide Property Investment
+44 (0)161 772 1370