DescriptionRose House was previously a specialist care home that has been recently converted and refurbished to a very high standard with the original intention of providing quality student accommodation in line with faith principles. The property has an HMO Licence for a maximum capacity of 20 and is in its second successful year of trade.
This is an attractive building originally from the 18th Century, with an attractive front garden and views across the city. It has been more recently extended comprising 20 bedrooms, together with various social spaces and fully fitted kitchens, laundry and gym.
There is separate vehicular access and parking to the rear accessed from Constitution Street.
Floor Area
We are advised that the floor area is 9,898sq.ft on a GIA (Gross Internal Area) basis.
LocationRose House is located a short walk to the northwest of the amenities of the city centre, Abertay University, University of Dundee and High School of Dundee.
Dundee is the oldest and fourth largest city in Scotland and as part of the stunning waterfront regeneration is home to the V&A Museum and RRS Discovery as well as the nearby McManus Galleries. The Eden Project has recently been granted planning permission and is set to open in 2030 expecting to attract around 500,000 visitors a year. Dundee has two Universities (University of Dundee and Abertay University) and is well regarded for medical research, law and gaming.
The main entrance to Rose House is from Constitution Terrace, a quiet residential street but the rear vehicular access and multiple car parking spaces is accessed from Constitution Street.
Internal Details 20 unique bedrooms
2 bedrooms are full en suite
18 bedrooms share eight different shower rooms located throughout the property
1 bedroom is accessible
3 multi purpose living rooms
3 fully fitted kitchens
Dining room
Spacious laundry facility
Onsite Gym
Fixtures & FittingsThe existing operation is fully fitted.
ServicesAll mains services are available. The building benefits from a gas central heating system with two boilers and two hot water tanks.
The OpportunityRose House is a fully refurbished high quality 20-bed student accommodation development in the heart of Dundee. The property is now branded and operated as ILM Halal Student Halls - the UK's first purpose designed, premium, halal aligned student residence where all students are welcome.
The brand developer is looking to sell the investment to drive further growth of the brand across the UK.
TenancyThe developer/operator will take a 15 year lease at a rent of £77,000 per annum with an RPI linked rent review mechanism to be agreed. This provides a Net Initial Yield of 6.6% based on the proposed rent and guide price.
Whilst a relatively new brand the faith aligned nature of the operation has proved a successful attraction in a crowded market. The asking price is underpinned by a recent valuation of the building.
Business RatesThe property has been assessed for Council Tax and is in Band H.
