Velocity Student is a purpose built student accommodation (PBSA). The project involved the conversion of the former public house and ground up development in the car park and land to the rear of the site.
The strategy was to obtain planning permission to change of use into Sui Generis (Student Halls). Thereafter rent out the rooms on AST’s and retain via a commercial mortgage.
Planning was subsequently granted for a 34 ensuite bed large scale PBSA with 5 shared living spaces and landscaped gardens.
All 34 rooms are let via AST’s with a commercial mortgage in place.
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