CANTO COURT - Savills

LONDON COLLEGE OF FASHION OLD STREET UNDERGROUND STATION AND SURROUNDING `TECH CITY'

CANTO COURT

122 OLD STREET | LONDON | EC1V 9BD

CASS BUSINESS SCHOOL

CANTO COURT

BARBICAN

SMITHFIELD MARKET QUEEN MARY UNIVERSITY

CANTO COURT

Inner Courtyard

INVESTMENT CONSIDERATIONS

Freehold student accommodation property constructed in 2008. 164 self contained en-suite studio apartments arranged as basic, classic and premium room types.

T he property benefits from a nomination agreement with City University London expiring June 2015. The University have taken 91 bedrooms for 2013/14, 55% of the scheme.

Located within easy walking distance of four university campuses and a range of transport links.

Planning permission for student accommodation in London remains challenging to secure which insulates values, drives rental growth and creates barriers to entry to the sector.

Rare opportunity for representation in London, which, with a total of 41 universities, forms the largest concentration of higher education in Europe.

Within London, only 62,351 (21%) of full time students have access to purpose built student accommodation. There are 303,105 full time students in London (HESA 11/12).

London is home to four of the world's leading 75 institutions: University College London (4th), Imperial College London (5th), King's College London (19th) and London School of Economics and Political Science (68th). (2013/14 QS World University Ranking).

Forecast gross rent of ?2,528,332 for the 2013/2014 academic year and a net rent of ?2,204,332.

We are instructed to seek offers in excess of ?33,900,000 for the freehold interest in the property, which reflects a net initial yield of 6.15% on the term time student income, assuming purchaser's costs of 5.80%.

Inner Courtyard

Old Street Elevation

LOCATION

London is the capital city of the United Kingdom, with excellent inter-city and international travel links. The M25, which encircles the city, connects directly to routes to the North (M1, M11, M40), West (M4), South (M3, M23) and East (M2, M20) of the country. The city is supported by eight main railway stations including King's Cross St Pancras, which connects directly to mainland Europe via the Eurostar network.

The city is supported by several major international airports including Heathrow (17 miles), Gatwick (30 miles) and Stansted (37 miles). All are easily accessible via public transport, namely coach services and express train routes. Heathrow is also linked directly to the London underground network via the Piccadilly Line (journey time from Old Street approximately 70 minutes).

London is the largest metropolitan area in the European Union and in demographic terms its population rate increased from 7,172,091 to 8,173,900 between 2001 and 2011; an increase of 14%. During this period the population of Islington increased from 175,792 to 206,125; an increase of 17.3%.

London is expected to remain at the forefront of the UK recovery given its concentration of service sectors companies. Growth output in London (nominal GVA) 2007 ? 2011 was 12.40%, far out-stripping other UK regions. In labour market terms, 374,000 jobs created in the UK between 2013 and 2018 are forecast to be within London, which equates to approximately 1 in every 4 jobs (ONS).

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Bartholomew

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SITUATION

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19

Court

13

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Canto Court is situated in the London Borough of Islington, directly north of the Cit1y2of London in a very popular student area. The property is located on Old Street (A5201), in close proximity to Shoreditch and Hoxton and a number

of transport links, namely Old Street Underground Station and the Barbican Underg3ro5und Station.

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23 46

Play

The property Area

is

well

situated

for

a

number

of

universities;

it

is

within

easy

walking

distance

of

QStueeaendmMaarny

University,

City

1U6n9ivtoe1rs7i3ty

London,

Cass

Business

School

and

the

London

School

of

Fashion.

23

The property is located within 5 minutes walk (0.2 miles) of Old Street Underground Station (CNoourtrhtern Line) to the east, and within a 10 minute walk (0.5 miles) to the Barbican Underground Station (Circle, Metropolitan and

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Hammersmith & City Lines) to the south west. Liverpool Street Station is also located within 20 minutes walk (1.0 miles) to the south east.

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24 6 5

36

16

18

The property is serviced by several bus routes; the 55 running directly to Oxford Circus, the 243 directly to London Waterloo and two night buses (N35 and N55) to Tottenham Court Road and Oxford Circus. The nearest stop is located on Old Street, directly opposite the entrance to Canto Court. Source: TFL

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30 12

Site Plan

TCB LB

TRAVEL FROM CANTO COURT

29 11

148

33 15

b

3

122

120 118

112 to 116

110 108

Canto Court

1 to 12

oyley House

h eorge Guilrlet tt

El Sub Sta

Not to scale - For indicative purposes only 44 to 52

130

9 6

134

1 to 5 Tilney

142 to 146

140

Royal Mail House

Distance/Method and journey time

Cass Business School

138

Distance (miles)

0.3 miles

Walking

5 minutes

Source: Google

Cycling

2 minutes

LOCAL UNIVERSITIES

Queen Mary University 0.4 miles 8 minutes 3 minutes

City University London 0.5 miles 11 minutes 5 minutes

London College of Fashion 0.8 miles 13 minutes 5 minutes

Court

Distance/Method and journey time

INTERCITY TRANSPORT LINKS

16 to 26

Liverpool Street

Euston

Waterloo

INTERNATIONAL TRANSPORT LINKS LANDMARK DESTINATIONS

Kings Cross St Pancras

Heathrow Airport

Oxford Circus

Embankment

Underground from Old Street

28 to 42

18.1m

Underground from Barbican

9 minutes 4 minutes

Source: Transport For London (TFL) 1444toto1747

7 minutes 13 minutes

14 minutes 21 minutes

5 minutes 5 minutes

70 minutes 75 minutes

14 minutes 16 minutes

21 minutes 20 minutes

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