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251 bedroom commercial property for sale

Guide Price £10,000,000

Northern Cyprus - Lefkosa / Nicosia

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Call: 03339 390705

Full description:

A unique yet rare opportunity to invest into a state of the art university dormitory that is excellently situated in a prominent region acquiring an average of 92% occupancy that equates to continuous significant profitable income enabling accession to a whole host of new opportunities.

Here we present to you a 205-bed-capacity dormitory whereby the capacity will be brought up to 251 beds by January 2017 located in a building of 5,90 m2 situated on the land contained in the total of 1,459 m2 in the Kızılbaş Neighborhood, Central District, Province of Nicosia.

With the rapid increase in recent years in private universities, there is a substantial increase as well in the number of private student dormitories. This is such that for every new university that opens, there is at least more than one student dormitory in the vicinity. Private dormitories, besides providing a more comfortable environment to live and study in, are also preferred because of the security they provide. Because of the demand for private dormitories, this field has come to the fore as a new source of revenue for investors in real estate. Many real estate investors have begun to channel their money recently into student dormitories rather than into residences, land holdings or stores.

Indeed, this trend can be readily observed in the real estate market. Investors recently are engaging in real estate market research not only for housing, offices or land but for dormitory buildings. Again recently, newspapers and the internet frequently publish sales and leasing ads related to student dormitories and it appears that the attractiveness of dormitories as a new real estate instrument will grow rapidly in the coming period. This is because it has been observed that when the investment is made in the right location, earnings are much higher than they would be in the case of housing or land.

Features Within This Dormitory:

- Private Studios that are fully furnished
- Spacious Wash Rooms
- En Suite Rooms
- Luxurious Lounge Area
- Fully Equipped Gym
- Fitness Area
- Secure Parking
- Visitor Accession
- 24 Hour Security
- Study Rooms
- Library

An Increase of 42 Percent!:

According to the real estate survey conducted by Century 21, there has been a 42 percent increase in the number of private student dormitories in the last three years and idle capacity is even greater. At this time, the capacity of the 3,612 private student dormitories is 314,596 but the number of students living in the dorms is 166,089. The sector has an idle capacity of 148,507 and while there were 1,545 dormitories in 2003, an annual increase of 42 percent up until 2015 brought the figure up to 3,612. This data shows that demand in the sector, especially in the last 3 years, has increased despite the excess of idle capacity.

It can be seen that the number of dormitories will increase in the coming period despite the idle capacity and that the progress of the last 7 years and the increase in the numbers of universities and students have been instrumental in increasing the demand for safe dormitories, something that particularly families in the big cities desire for their children as an escape from the adverse city conditions that propagate fear and insecurity. The number of dormitories is expected to grow even more.

Dormitories with at least 100 Students are More Profitable

It is observed that investing in student dormitories is an attractive endeavor because of the material gain involved but dormitory investments are different from other investments. Although material gain makes the prospect attractive, there is a major difference that is manifested by the fact that people who acquire dormitories as an investment need to devote personal time to dormitory management as well. It is very rare but sometimes dormitories appear on the market, operating with tenants already in them. The total cost of a 100-tenant investment varies between TRY 500,000 - TRY 10 million and when the investment property is suitably located, a dormitory becomes a very profitable investment, believed to pay for itself in 7 years.

Student dormitories are made up of at least 30-40 rooms in independent buildings that have common spaces such as baths, toilets, kitchens, restaurants, cafes and study areas. Generally, dormitories of a minimum area of 1,500 square meters are preferred.

Dormitories can be Amortized in a Shorter Time than Housing!:

When compared with other investment instruments, together with the other items of expenditure needed to make the building ready to function as a dormitory, the investment in the building is such that it can be amortized in 7 years. The greatest factor to play a role in this is that average EBITDA is 50% or more in dormitory management.

When it is considered that obtaining returns from housing investments takes an average of 10-12 years, it can be seen that dormitory investments are potentially more profitable. It must be noted here that the investment will be profitable if it has been analysed well. If the analysis was faulty, the return could take 15-20 years. Assuming that an investor making a TL 1 million investment gets a return on the investment in 7 years, minimum earnings would have to be TL 12,000.

It is observed that investments made particularly outside city limits and in the vicinity of universities are more profitable. It is believed, however, that investing in student universities in cities such as Istanbul, Ankara and İzmir will not be very profitable, the main reason for this being that cities like these in particular have a surplus stock of 1+1 type housing. When the housing stock in types 1+0, 1+1 and even 2+1 is considered, investing in student dormitories is regarded as a formidable and lengthy investment in terms of returns. Keeping these criteria in mind, it may be said that investing in dormitories in cities in Anatolia where stocks of housing are low and in districts that are close to the university is a more advantageous endeavour.

Northern Cyprus is seen as a safe haven for Turkish families sending their children to study here. Most students who continue their education here are of a high end background leading to profitable secure income.

This dormitory is number one in the region based on high occupancy and student satisfaction. The services and features available deem this dormitory to be exceptional and with the upcoming expansion, marketing within local institutions is severely high.

Factors to Consider:

- Transportation is excellent
- The location provided full security and there is local government institutions nearby
- Guaranteed Income through remarkable occupancy of 92%+
- Local Institution Marketing is strong due to many majestic features
- There are no other dormitories in Cyprus and in particular in Nicosia at these standards
- An occupancy rate of 90%-95%, whereas dormitory occupancy rates in Cyprus is around 88%.

The location is 5 km away from Near East University and approximately 15 km away from the city centre and Cyprus International University. There is no structure or social enterprise in the vicinity of the universities, Premium Park Dormitory, in the centre of the city of Nicosia, is widely popular among students and is in demand because it is situated at the entrance to Dereboyu Caddesi.

If you would like to obtain further info or to arrange a private appointment, please do not hesitate in contacting us and we would love to be of assistance.

This pin shows the general area of the property as the exact location was not given

Nearest Airports*

  • Ercan (Domestic), 24.9 miles

*Distances are straight line measurements. This feature is currently in beta.

Floorplan 1
Floorplan 2
To view this property or request more details, contact
Sterling De Vere, Overseas

Sterling De Vere Unit 1, 120-132 Chrisp Street Poplar London
03339 390705  Local call rate
About Sterling De Vere, Overseas

Sterling De Vere is an award winning multi national Real Estate firm with branches across London and overseas specialising in International Property with a whole host of experience across the sector.

Our extensive team of advisor's are here to help with your property enquiries around the clock ensuring your every need is dealt with in a swift and efficient fashion.

Whether you are looking for apartments, villas, commercial property, land or investment for residential purposes, we have it all covered.

With our HQ in London, we have recently opened up several offices abroad including the following hotspot destinations:


We have options available for every purpose and budget and with our exclusivity to market certain developments, we cannot be beaten on coverage, price or service.

Our overseas team members are more than able to cater for your every need and we take great pride in arranging V.I.P viewing dates for any particular investment you are looking to proceed on with.

We have unique agreements in place to advertise top of the range developments at a special commissioned price that cannot be beaten, including award winning projects in Turkey that is set to exceed within price in a very short space of time.

Why purchase international property with Sterling De Vere?

Our HQ in London comprises of efficiency, trust, reliance and experienced staff
We have exclusive agreements in place with conglomerate developers
We are the only UK agent who has authorisation to market certain developments
Our prices and coverage cannot be beaten in the slightest
We have exclusivity to sell and manage award winning, charismatic developments
Our HQ in London comprises of a multi-award winning team that have picked up 15+ awards in 2015 alone
The best Sales Agent in the UK as voted by Tenants & Landlords belongs to our agency
We are ranked in the top 5 Real Estate firms in the UK
Offices across London and many more countries
We have available an investment for every budget
Tailor made V.I.P packages and transfers to clients
Substantial and significant portfolio

Why not call us to find out more on the properties we have available and to be in with a chance of securing an efficient, profitable investment.

Contact Tolga Mehmet, our Chief of Staff and Senior Executive of International Relations.


This is a property advertisement provided and maintained by Sterling De Vere, Overseas (reference OgrenciYurdu) and does not constitute property particulars. Whilst we require advertisers to act with best practice and provide accurate information, we can only publish advertisements in good faith and have not verified any claims or statements or inspected any of the properties, locations or opportunities promoted. Rightmove does not own or control and is not responsible for the properties, opportunities, website content, products or services provided or promoted by third parties and makes no warranties or representations as to the accuracy, completeness, legality, performance or suitability of any of the foregoing. We therefore accept no liability arising from any reliance made by any reader or person to whom this information is made available to. You must perform your own research and seek independent professional advice before making any decision to purchase or invest in overseas property.

This property is marketed by:

Sterling De Vere, Overseas

Sterling De Vere Unit 1, 120-132 Chrisp Street Poplar London
or call 03339 390705
Calling from outside the UK? 0044 20 8610 9028

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