Guide price £10,000,000 Ivy Hall 100 Cricklewood Lane, London New Sole agency Freehold Investment Yield 12% Yield Share Save Key features Offers requested in excess of the guide & prior to 27th February 2025 auction Asset management potential to increase the passing income Located an approx. 140 metres from Cricklewood station Low PBSA value of £55,248 per a bed on guide price Forecast gross rental £1,175,670 p.a for 24/25 academic yr (11.75% GIY on guide) Investment let on lease to Middlesex University at £600,000 p.a. 6% GIY on Guide Investment of 181 bedrooms & associated kitchens, bathrooms & common rooms Development potential to convert into multiple dwellings Capital investment in the property of £770,000 in 2023/24 & £800,000 in 2024/25 Approx. 5,286 sqm 56,897 sqft low capital values of £175.75 per a sq ft on guide Freehold student hall of 181 beds with associated kitchens & common rooms. An investment opportunity or development potential to convert into multiple dwellings About this property Ivy Hall is a four storey building comprising of basement car park and accommodation over ground, first and second floor. There is 181 bedrooms of varying sizes with associated communal space (kitchens, bathrooms and communal space) split across 14 blocks 121 Standard non- ensuites - let at £174.72 per a week 11 Standard Large - let at £180.53 per a week 29 Ensuite - let at £194.25 per a week 20 Ensite large - let at £198.87 per a week There is also currently 12 car parking spaces marked out in the basement with scope to increase this. On completion Middlesex University will have a lease on the property until 1st October 2025 and will be paying an equivalent rent of £600,000 p.a. Therefore the current tenancies will continue to be managed by Middlesex University. The property is currently let to the Students of the University on 40 week AST's and provides a gross income of £1,175,670 p.a. with an option to extend beyond the 40 week AST to a 50 week AST. In the Summer of 2024 there was an additional rental income of £164,000 through existing tenants extending their leases and short term lets from alternative tenant profiles. The site offers asset management potential to increase the passing income. There is also underlying residential development potential to convert the property into multiple dwellings (subject to the requisite consents) Additional information Accommodation Please note Savills has not measured the property and no reliance can be provided on the floor plans. We have taken the following measurements from the EPC register. 181 rooms and associated common rooms, kitchens and bathrooms An approx. 5,286 sqm (56,897 sq ft) Tenancy The property will be let on a lease from completion to Middlesex University at the equivalent rent £600,000 p.a. Reversion will be on the 1st October 2025 The rent will be paid on a monthly basis from completion until lease end on the 1st October 2025. Notes Joint Agent Richard McKenna Savills - Director, UK student Investments & Development Mob: 07972000092 Email: RMcKenna@savills.com Please note the areas provided are approximate. The photos and any drawings are for illustrative purposes only and may not reflect the exact boundary of the property. The property has not been internally inspected by Savills. Prospective purchasers must rely upon their own enquiries in this regard. Please refer to the legal pack. Bidding process There will be a 2 stage bidding process. Stage 1 Potential purchasers will be invited to place bids via a set deadline. These offers will then be considered by the client and a best and final offers may be called. Should an offer meet the clients requirements a successful bidder will be selected and a sale will take place via an auction contract, which will be signed immediately along with receiving a 10% deposit. The property will be deemed as ‘sold prior to auction’. Timescales for this first stage are to be confirmed. Stage 2 If no stand out bids are received or bids received are of a similar value then a reserve price will be set on the property and it will be sold via a live online auction (date to be determined subject to Stage 1 of the process). Contact an agent Nicholson Boyd Savills Auctions +442078249039 Contact now Request details Download PDF brochure