Hull PBSA brought to market for £4m
Cranbrook Court comprises 78 bed spaces across a mix of self-contained student houses and flats, and is being marketed by Carrick Real Estate on behalf of Kexgill.
Located on a prominent position on Cranbrook Avenue, directly opposite the University of Hull’s campus, teaching buildings and sports facilities, it is also close to shops, cafés, and restaurants on nearby Newland Avenue and Cottingham Road.
Constructed in 1994, the asset currently generates a gross operating income of £362,430 per annum, with a net operating income of £252,375 after annual operating costs of £110,055.
This equates to a gross income of £4,646 per bed each year and offers scope for rental growth, with its campus-side location supporting its long-term investment potential.
The sale comes as investor interest in affordable PBSA continues to grow, with well-located assets close to established universities remaining in demand amid ongoing pressure on student housing supply.
