, 113 St. Marys Road, Southampton, SO14 OAN | Property for sale | Savills
4,068 sq ft(377.93 sq m)

113 St. Marys Road, Southampton, SO14 OAN

  • Freehold

Key features

  • A unique opportunity to invest in an income-producing student accommodation property located in the core university city of Southampton
  • The city has a combined full time student population of approximately 35,000 of which a high number are international students.
  • Huge Shortfall of PBSA in Southampton currently
  • The property is located within close proximity to university campuses and city centre amenities
  • The asset was 100% let (prior to practical completion) for 2022/23 academic year and again for 2023/24
  • Recently completed development providing fully operational 11 bed spaces arranged as studios or 1 bed flats, plus retail unit
  • Total GIA of 4,068 sq ft
  • Total gross income of £138,00 per annum for the 2022/23 academic year
  • Guide Price of £1.4m

Purpose-built student accommodation situated in central Southampton

About this property

  • Description
    The subject property is situated on St. Mary’s Road, adjacent to its junction with Clovelly Road, approximately 0.5 miles north east of Southampton
    City Centre. St. Mary’s Road is accessed via the eastern side of Charlotte Place roundabout. St. Mary’s Road lies in close proximity to the A3024
    and A33 which are main spine roads through Southampton, providing access to the M271 and M27 at their most northern points. The Royal South
    Hants Hospital is positioned 0.1 miles north of the subject. A mix of uses surround the property including office, residential and retail. The property
    is situated opposite two of the largest developments of student accommodation in Southampton including Crescent Place and Liberty Point.
    The property is situated 250m north east of Solent University Campus and 1.7 miles south of University of Southampton Avenue Campus. Unilink bus
    services run from St. Mary’s Road, around 50m.

    The subject property comprises of a 20th Century building arranged over 4 levels, constructed of brick with part pitched tiled roof and part flat roof. Glazing is UPVC double glazed. The property comprises of a ‘lock-up’ retail unit to the front with residential above. The residential accommodation is
    accessed by a dual access door to the southern elevation. To the ground floor there is also associated bin and bike stores, W/C facilities and a laundry room. To the upper floors there are seven residential apartments (1 x studio, 4 x one bedroom and 2 x two bedroom).

    The Opportunity
    Students make up a large proportion of the population of Southampton. University of Southampton has circa 25,000 students and Solent University has approximately 10,500 foreign students.

    The opportunity exists to acquire a fully income producing student block which are conveniently located, close to both universities and have been completed to a high specification.

    The building is fully let with average room sizes of 29.8 sq m for St Mary’s Road. This is excessive with the average private en-suite student room size (outside London) of 13.41 sq m.

    Guide Price
    Offers are invited in the order of 1.4m, representing a gross yield of 10.18% and on a net yield basis (assuming estimated running and standard purchaser’s costs) of 8.53%.

    The individual price reflects £109,000 a room (assuming £200,000 of value attributable to the retail).


    The units are individually let to students under Assured Shorthold Tenancy agreements. AST’s will be provided to interested parties upon request,
    St Mary’s Road commercial unit is let to a local independent tenant on a new 20 year FRI lease at a rent of £25,000pa with 5 yearly upward only rent reviews.

    VAT & Sale Structure
    The sale price is exclusive of any VAT, which if applicable, will be in addition at the appropriate rate. The vendor holds the asset in a clean SPV and therefore there is the opportunity to purchase this company.

    All viewings can be arranged by appointment with Sole Selling Agents Savills.

    In accordance with anti-money laundering regulations, the successful purchaser will be required to provide identification documents upon request and without delay.

Local information

  • Southampton is the major South Coast city and is located approximately 75 miles south-west of London, 30 miles to the east of Bournemouth and 20 miles west of Portsmouth. Road communications to the city are excellent, with the M27 South Coast motorway running across the north of the city and linking with the M3 motorway, which extends north to London and the M25. The M3 also connects with the A34 at Winchester, which gives direct access north to Oxford, the M40 and The Midlands. Southampton also benefits from direct rail link to London Waterloo with a journey time from the city centre station of approximately one hour twenty minutes. Southampton International Airport lies on that same rail line and is approximately five miles to the north of the city centre and provides direct flights to most of the UK as well as to the major European destinations.
  • The city’s population is currently 256,459 (SAPF 2018 estimate).