Sansome Hall, 1 Sansome Walk, Worcester, WR1 1LH
Freehold student investment in Worcester
Guide price*
£2,500,000+
Plus fees
Sold prior to auction, for an undisclosed amount
Lot information
Commercial Investment
Auction details:
Thursday 27th March 2025 @ 08:30AM
Freehold city centre student investment opportunity currently producing an annual rental income of £451,200 (with potential to increase to £497,400 per annum)
Property Description
Sansome Hall was built in 2008 and comprises 83 en-suite bed spaces and a 1 bedroom flat arranged in a single building over five floors. The property has lift access to all floors. The Vendor has recently spent approximately £75,000 on improvements and maintenance across the building over the past 6 months. All rooms are en-suite and each cluster flat contains between six and ten bedrooms with an open plan communal kitchen and dining area. Internally, the property provides fully equipped spacious shared kitchens, bedrooms including en-suite shower rooms, a single bed, desk and wardrobe. The property also benefits from an on-site laundry room, secure bicycle storage area, Wi-Fi internet connection and intercom entry system.Location
Sansome Hall occupies a town centre location and prominent position on the A38. Sansome Walk. The property is situated on the North Eastern corner of the city centre’s retail core which is adjacent to Foregate Street Station. The pedestrianised High Street is just a 5 minute walk away from where national retailers such as Marks & Spencer, Boots, TK Maxx, River Island, Tesco Express, WHSmith, JD Sports, Costa Coffee, Barclays, Lloyds and Primark are represented. The Crown Gate Shopping Centre and Cathedral Square are both located a 4 minute walk away from Sansome Hall which hosts national retail and leisure operators. Sansome Hall is centrally located for the student population in Worcester. The University of Worcester’s City Campus is located just 0.25 miles to the west of the property. Sansome Hall is also located just 1.4 miles from the St John’s Campus.Energy Performance Rating
See legal pack.Tenure
Freehold – Subject to the existing tenancies.Planning
Sansome Hall received planning permission on 15 March 2007 for the following:C1 consent ‘Demolition of existing building to allow for erection of a block of 89no student bedsits with communal kitchen and dining areas (Class C1). (Ref: P06D0750).’
The property is not listed and is not located in a Conservation Area.
Tenancy Details
The property is fully managed by Black Pear Lettings. The ensuite bedrooms are directly let on Assured Shorthold Tenancies and each cluster flat benefits from an HMO License. The property is currently 89% occupied with a total contracted gross rent of £37,600 per calendar month (£451,200 per annum). The Management Agreement, Tenancy Schedule and HMO Licenses are available upon request.Value Added Tax
The property is elected for VAT, and it is proposed that the sale will be treated as a Transfer Of a Going Concern (TOGC).Viewings
Strictly by appointment with the Auctioneers.DISCLAIMER
Bond Wolfe or their Agents for the seller of these Lots give notification that any particulars contained within the catalogue/website are prepared to the best of their knowledge and include information that has been provided to them. Plans, photographs and room measurements (provided via a 3rd party) are provided as guidance only and should not be relied upon. All potential buyers should make their own enquiries and investigations to the accuracy of the information contained in these particulars or to obtain further information that is not provided which they deem to be important prior to bidding. Any amendments to the particulars that Bond Wolfe are aware of will be published on the addendum, which is available within the lot information.
VIEWINGS
Buyers are deemed to have viewed the property (if access is available), viewed the virtual tours where applicable and undertaken all their due diligence checks prior to bidding.
All viewings are undertaken at your own risk. It is recommended that you take a torch, as not all properties have electricity, and that appropriate clothing is worn. Bond Wolfe under no circumstances shall be liable and will not accept any responsibility for any indirect incidental, consequential, special, or exemplary damages, injury and/or death arising in connection with your access to any property, caused as a result of the property’s state of repair or your use/decision to use your own equipment or any furniture, equipment or appliances in the property.
LIVE-STREAMED AUCTION
Please note that the Auction will be livestreamed via our website. You can take part remotely via Proxy, Telephone or Online, if you wish to bid you must pre-register via our website no later than 3pm the day prior to the auction. Please click here for further details.
*DEFINITION OF GUIDE & RESERVE PRICE
All properties are sold subject to a reserve price, which is the minimum price the seller is willing to accept and is confidential between the seller and Auctioneer. The guide price is only an indication as to where the reserve is currently set and not necessarily the Auctioneers expectation of what it will sell for. If the guide price is a bracket figure, then the reserve price cannot be higher than the top end of the guide price, if the guide price is a fixed figure, then the reserve cannot be more than 10% above the guide price. The guide price and reserve price can be subject to change at any time up to and including the auction day and, properties can often sell for substantially more than the quoted guide price.
COSTS AT AUCTION
When buying at auction you will unconditionally exchange contracts on the fall of the auctioneer’s gavel, please therefore ensure you have read the legal pack for each property prior to bidding. They are all individual and include the terms and conditions of your purchase as well as any costs in addition to the purchase price.
The sale of each lot is subject to an administration fee of £2,340 inc VAT (£1,950.00 + VAT) (unless otherwise stated in the important information), payable on the fall of the gavel/at the end of the online auction. Please note that the administration fee for the Local Authority lots may differ and all interested parties should enquire directly with the Auctioneers as to the fee applicable.
Any additional costs excluding the administration fee will be listed in the Special Conditions within the legal pack and these costs will be payable on completion. The legal pack has been prepared by the seller’s solicitor(s), who are responsible for its contents and disclosing all know information. It is available to download free of charge under the ‘lot information’, and you take responsibility for reading and understanding the legal pack and are bound by all the contents. Any stamp duty and/or government taxes are not included within the Special Conditions within the legal pack and all potential buyers must make their own investigations.
