The property was developed by GP in 2013. It was bought as a former Nursing Home and converted into a Co-Living Accommodation. Located conveniently close to Sunderland University Main Campus, Library, University Metro Station, Park Lane Bus Station and a short walk away to all local amenities.

• Co-Living Accommodation
• On Site Car Park Facility
• Social Communal Areas
• Ten Studio Apartments
• Seven cluster Apartments
• Total Forty-One student Bedrooms

It was originally constructed in the 1990’s as a three-story care home.

The property was refurbished and modernized in August 2014 to an elegant and high standard. The refurbishment works were managed by Graysons Properties. The development offers en-suite bedrooms in cluster apartments with spacious living areas, fully furnished studio apartments and communal areas which benefits from:

• Electrical Gated Car Park
• Cinema Room
• Garden
• Mail Room
• Loundry Room
• Bike Storage
• Refuse Area
• Lift
• Intercom Access
• CCTV

City View is located on Thornhill Crescent in Sunderland City Centre, providing immediate access to Sunderland University City Campus, Murray Library, University Metro Station and Park Lane bus/metro exchange.

Co-Living Accommodation

The residential units are accessed via a secure, key-card operated main entrance door from Tunstall Terrace. The Main lobby has a staircase to access the first and second floors, car park and mail room. There is also a secondary stairway providing access to a 4 bedroom apartment and 6 studios.

Each apartment is accessed via key card entry and decorated in a unique style, offering variety to prospective tenants. Residents are provided with integrated electric hob and ovens, fridge freezers, en-suite shower rooms and fitted bedroom furnishings.

Ground floor

Is arranged with two 4 bedroom apartments, a 2 bedroom apartment, Laundry Room, Mail Room, Social Hub and Cinema Room.

First and second floors

Arranged with ten studio
apartments, one 4 bedroom, one 5 bedroom and two 6 bedroom cluster apartments.

The residential apartments are 100% occupied for the 2023-24.

Since 2014 it has had a 100% letting record for every academic year.

Tenancies are for a majority of 52 weeks. The rent has increased from £173,000 per annum to currently at £268,268.00 for Academic Year 2023/24.

The projected gross rent roll for the 2024-25 academic year is to be £299,775.00.

All utilities, including broadband and water rates are included in the advertised rents, and a cleaner is provided to the communal areas on a regular basis.

This building was originally bought for £375,000.00 and received a capex expenditure of £975,000.00. Most recent valuation of £2.2m (in 2021).

The property comprises a converted former office block. This block was purchased in 2013/14 as a joint venture between Union Property Development Ltd and Ryecroft Holdings Limited and redeveloped under the management of Graysons Properties. After a capital investment of £3.5m, the building has been converted to a 7 unit retail parade and student accommodations. Located conveniently close to Sunderland Metro and Rail Station. Phoenix House is a short walk away from Sunderland University and the St Peter’s Campus is 16 minutes walk away.

• Co-Living Accommodation
• Total Eighty-Eight Student Bedrooms
• Twenty-Two Studios
• Fourteen Cluster Apartments

Phoenix House was originally constructed in the 1970’s as a five Story office block with retail units occupying the ground floor.

The property was extended and fully refurbished in 2014. The refurbishment included addition of a further floor and was given a striking new facade. It was refurbished internally to provide twenty-two studio apartments and fourteen cluster apartments, ranging from 3 beds to 6 beds. The property benefits from a remaining 10-year Structural Warranty. The works were managed by Graysons Properties.

The ground floor retail units have also had their facades refurbished and re-let to a mixture of local and national operator.

Co-Living Accommodation

The residential units are accessed via a secure, key-card operated main entrance from South Street, with lift and stair access to all floors. Communal facilities include secure post room, bike store and refuse store. There is also a secondary stairway providing access to various plant rooms and a fire escape to the north elevation of the building.

The upper floors are typically arranged with an enclosed corridor access along the rear elevation providing access to all units, with the exception of the fifth floor which has an enclosed central corridor. Each apartment is accessed via keycard and decorated in a unique style offering variety to prospective tenants, and residents are provided with integrated electric hob and ovens, fridge freezers, en-suite shower rooms and fitted bedroom furnishings. There is a communal laundry room and various plant and store rooms. This property also benefits from smart “KNX” energy management system which helps to reduce the operational costs.

The first and second floors are arranged with three studio apartments and a 4 bedroom, 5 bedroom and 6 bedroom cluster apartments.

The third floor is arranged with one studio apartment and a 3 bedroom, 4 bedroom, 5 bedroom and 6 bedroom cluster apartments.

The fourth floor is arranged with one studio apartment and two four bedroom and two five bedroom cluster apartments.

The fifth floor is arranged with twelve premium penthouse studios.

The residential apartments have been 100% occupied since the property was redeveloped in 2014.

Tenancies are for a majority of 52 weeks. Under Graysons Properties Management the rental income has increased from £476,000.00 per annum to currently at £637,254.00 The gross rent roll, projected for the 2024-25 academic year is to be £693,854.00.

All utilities, broadband and water rates are included in the advertised rents, and a cleaner is provided to the communal areas on a regular basis.

This property was acquired for £1.8m and is now worth an estimated £6.8m.

London is ranked the world’s largest student population for any single city and ranks fir st in the list of global best student cities. The existing ‘Lillian Penson hall’ has great access to public transport links, located 100 meters from Paddington station in transport zone 1. The building provides eight stories of student accommodation.

Our proposals are for a refurbishment of current accommodation to provide individual studio units that include en-suite bathrooms and kitchen facilities.

At the time of the offer Graysons Properties and Envision Design Group played an instrumental role on the future potential design proposal for the student development. Their proposed design was the basis on which Union Properties placed their offer for the building.

Amenity spaces will be redesigned to deliver:

• Social / lounge spaces
• Dedicated study areas
• Bookable meeting rooms
• Bookable kitchen & dining spaces — function rooms
• A Cinema room / wellness area
• A Gym

Details

• Student Accommodation
• Eight Stories
• The refurbishment has a GDV of £205m, to provide 352 units
• Purchased for £79.5m
• Refurbishment costs are £30m
• Due for completion in July 2024

NEW CORNER ENTRANCE, AMENITY SPACES FACING TALBOT SQUARE, ACCESSIBLE BEDROOMS.

Main entrance moved to the opposite corner of building to provide a ramped access approach to a dedicated reception.

Direct access from reception/entrance to social areas, removing the requirement to pass via bedroom accommodation.

Amenity areas with impressive panoramic views out on to Talbot Street and a strong social & active presence to the front elevation facing Talbot Square.

28 Studios including 3 accessible and 1 double studio.

20 Studios with 1 double studio.

The proposed layout creates a separation between studio accommodation and shared amenity areas, with active spaces located away from quiet residential zones.

This solution allows for an improved acoustic separation and facilitates utilising spaces with no access to natural light.

Greater connectivity – new staircase links upper amenity area with lower ground provision.

Shared amenity spaces:

• Dedicated study
• Bookable kitchen & dining space/ party
  room
• Cinema room / wellness studio/
  meditation – programmable space
• Ramped access located by cycle store
• Bookable study/presentation rooms

Informed by the university of london. The history of the former Lillian Penson Hall hotel includes being one of the alleged locations for the profumo affair – a major scandal in British politics. Caused by the relationship between the then minister of war john profumo and model / showgirl christine keeler who was reported to have been simultaneously involved with a soviet naval agent, leaking classified information. This heritage of scandal and east meets west’ theme informed our design narrative and the general look and feel of the scheme contrasting a contemporary mid-century feel with a more stark aesthetic.

All layouts comprise of the following:

• Small double bed (1200mm x 2000mm)
• Desk & task chair (1500mm with shelving above)
• Compact kitchen unit (1200mm for standard studios and 1600mm/1800mm for some of the larger Studios and twin Studios)
• Shower room (walls retained)
• Integrated storage provisions
• Emphasis on utilising natural light

Leazes Terrace Ltd acquired this stunning Grade I listed building from Newcastle University in 2019. It is located opposite Newcastle United Football Stadium and just a 4-minute walk from the campus and city centre.

In JV partnership between Ryecroft Holdings and Union Property Development Limited, we transformed the building, under the management of Graysons Properties, into 315 luxury co-living bedrooms, each one uniquely designed for modern student living.

Work was completed in September 2020 and achieved 100% let status prior to the commencement of the academic term. The property was sold to Blacksand Real Estate, in the November of 2020.

Graysons Properties have continued to manage this property. They have increased the annual gross rent from £1.67m to £2.54m for academic year 2023/24. The projections for 2024/25 are £2.7m gross rent per annum.

Leazes Terrace is a Grade I listed building, built c1830 by Richard Grainger and designed by architect Thomas Oliver, and is one of the best examples of terraced residences in the country.

The property is conveniently located within 4 mins walk to Newcastle University main campus and in very close proximity to Newcastle University Business School and Urban Sciences Building, so you are never far away from a study space. The property is close to St James Metro Station, which can take you into the city or to the coast. The University of Northumbria is a 15 minute walk away.

We acquired this stunning building from Newcastle University in 2019.

In JV partnership with Union Property Development Limited, we transformed the building into 315 luxury Co-Living bedrooms, each one uniquely designed for modern students living, together with fantastic social areas. This comprised a full light strip out of the existing building and the renovation of every single room to provide new wall, floor and ceiling finishes and new kitchen and bedroom fit outs. A traditional student hall type arrangement was converted into cluster apartments and studios. This was all carried out whilst remaining sensitive to the Grade I listed status of the building.

Leazes Terrace was bought from the University of Newcastle for £7.25m, received a £3.7m upgrade during the Covid pandemic. The works were managed jointly by Graysons Properties and its sister company Graystones Developments Ltd.

The works were completed over a period of 12 months and the building was sold for circa £21m.