Students flats for sale in Cornwall at ex Rosslyn Hotel, Falmouth

Now known as Carrick View, the 118 bed block on the old Rosslyn Hotel site on Kimberley Park Road was controversially allowed on appeal after permission was recommended for refusal by Falmouth Town Council and then refused by Cornwall Council.

The block in Kimberley Park Road is currently nearing completion

The London based developers Apartments for London and Falmouth University have put the freehold for the building on the market for £11m through Allsop an independent property consultancy based in London.

The block is being offered of the academic year 2021/22 and comprises of 109 en-suite rooms arranged in 16 cluster flats and nine studio flats.

It also comes with one year signed nomination agreement with FXPLUS (Falmouth Exeter Plus) for 109 ensuite bedrooms (40 week tenancies).

The remaining nine studios 100% forward let on a direct let basis and subject to Assured Shorthold Tenancies (ASTs).

It is forecast that the total gross rent reserved will be £894,131 while forecasted operational expenditure is £252,852 (£2,143 per bed)

The Projected Net Operating Income (NOI) is £641,279

The site will be operated by CRM Student.

In its description Allsop describe the site as an excellent location in Falmouth: "close to both Penryn Campus and Woodlane Campus which are home to students from Falmouth University and the University of Exeter

"Offers are sought in excess of £11,000,000 (Eleven Million Pounds) for the freehold interest, subject to nomination agreement, existing tenancies and contract."

A planning application to redevelop the site into student accommodation was refused by Cornwall Council in March 2017, the council saying that the plan went against their own strategy to develop accommodation around the university campus.

The plans went to appeal and were eventually approved in December 2017.

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