North Road West, Plymouth, PL1

Plymouth Student Accommodation Portfolio

An opportunity to acquire two well-established and fully occupied purpose-built student accommodation buildings in Plymouth, comprising the former No Place Inn and Mutley Tavern, both extensively converted from public houses to provide high-specification student accommodation in prime locations close to the University of Plymouth and the city centre.

The portfolio benefits from excellent accessibility to campus, local amenities, shops, restaurants and leisure facilities, making it highly attractive to the student market. No Place Inn also features a courtyard garden with outdoor seating and off-street parking for five cars.

In addition to these Plymouth assets, the vendors also own a further two buildings in Preston and seven houses in Swansea, all of which are available to acquire, individually or preferably as part of a larger portfolio transaction, offering immediate scale across multiple established university markets.

The combined Plymouth portfolio comprises 28 units, arranged as 4 self-contained flats and 9 studio apartments, together with HMO accommodation where applicable, with all necessary licences in place. The properties generate a combined annual rental income of £210,000 based on 50-week contracts, reflecting a gross yield of approximately 11.65%.

There are around 23,000 students in Plymouth, the majority at the University of Plymouth with students also studying at Plymouth Marjon University and Arts University Plymouth.
Total PBSA supply consists of approximately 7000 beds and there are minimal beds in the planning or development pipeline, so strong demand for student accommodation can be expected going forward.

The vendors have consistently focused on providing high-quality student accommodation in the most desirable student locations within each city of operation, avoiding areas that are less resilient to fluctuations in demand. Significant emphasis is placed on ongoing maintenance and investment, with recent works including the repainting of the Mutley Tavern.

This strategy has delivered exceptional occupancy performance, with the portfolio achieving 100% occupancy at the commencement of every academic year since operations began in 1998. All accommodation is fully let for the 2025/26 academic year, with over 90% already secured for 2026/27.

This represents a rare opportunity to acquire a proven, income-producing student accommodation investment with an established operational track record, strong occupancy history and potential to form part of a wider multi-city portfolio.

The quality of management is reflected in the current owners having a 4.5 star Google ranking.

Both buildings are fully compliant with up-to-date HMO licences.

A full data pack of information available on request, including detailed schedules of rents for current and previous years, HMO licences, gas safety certificates and EICR.

Plymouth Portfolio Summary:
Beds: 28
Annual Rental Income: £210,000
Gross Yield: 11.65%
Net Yield: 7.74%
Occupancy: 100% in every academic year