Block of Flats for sale in CT4, Canterbury

Block of Flats for Sale Within 5 miles of the CT4, Canterbury

More details for 66 New Dover Rd, Canterbury - Build-to-Rent for Sale

Franklin House - 66 New Dover Rd

Canterbury, CT1 3DT

Build-to-Rent for Sale
£6,375,000
14,789 sq ft

Kitchen

Canterbury Build-to-Rent for Sale

Franklin House presents a rare opportunity to acquire a prime, income-producing student accommodation asset in the heart of Canterbury, one of the UK’s most prestigious educational hubs. Constructed in 2019, this modern five-storey property offers 66 high-quality beds arranged across 48 bedrooms, including two wardens’ flats, complemented by a common room and passenger lift. Designed with future adaptability in mind, the building incorporates internal fire compartmental walls and multiple risers, ensuring flexibility for alternative uses. Strategically positioned on New Dover Road, a key arterial route within the city’s Conservation Area, Franklin House benefits from direct pedestrian access to Worthgate School and proximity to leading institutions such as the University of Kent, Canterbury Christ Church University, and the University for the Creative Arts. The surrounding area is affluent and vibrant, with excellent transport links via Canterbury East and Canterbury West stations, offering direct services to London in under 75 minutes. The property is fully let to Cambridge Arts & Sciences Ltd, part of CATS Global Schools, under a 25-year FRI lease expiring in October 2044, guaranteed by Bright Scholar Education Holdings Ltd. The lease includes annual RPI-linked rent reviews (collared at 2% and capped at 5%), with rent increasing to £408,087 per annum from October 2024. At the guide price of £6,375,000, this investment offers a compelling net initial yield of 6.00%, underpinned by strong covenant strength and long-term income security.