London, UK – Shojin Property Partners is excited to announce the launch of a new investment opportunity on Leicester City F.C’s former football ground. The site currently benefits from planning permission to build 275 apartments, 40 townhouses and 242 car parking spaces. The developer has submitted an application for enhanced planning for a PRS (Private Rented Sector) led scheme comprising of 695 beds across 371 apartments, and 1 commercial unit. The project will commence in August 2019 with an anticipated timeframe of 27 months until full exit.
Once planning is approved, the development will comprise a mixture of studio, 1- and 2-bedroom apartments as well as 3-5 bed unit clusters. This development intends to provide a high quality alternative for flexible living within the city, which students and young professionals often desire.
There is a lack of quality accommodation for students and young professionals within Leicester. As such, this scheme has been designed with them in mind. The site is within walking distance from both of the universities within the city, as well as a wide range of shops and amenities.
Residents will also have access to an onsite gym, rooftop amenities space, a cinema room and study rooms, creating an enjoyable place to live, socialise and study. Due to the site’s location to both of the universities within Leicester, the Royal Infirmary and the city centre, the development is perfectly placed to accommodate students and young professionals who are looking to live, work and enjoy the city of Leicester.
According to Barclays’ SME Growth Factors Index and PWC, Leicester is considered one of the best cities to live and work within the UK. It has been named the best place in the country for tech start-ups and the second-best place in the UK to start a business. It is home to some of the nation’s biggest employers such as Walkers Crisps, IBM and Caterpillar. Leicester’s economy is worth roughly £23.4bn, the largest in the East Midlands region, and an integral part of the UK economy. This is one of the main reasons why Leicester is an attractive city to live and invest.
“We have previously worked with the developer on a student development scheme in Nottingham and they have absolutely proven themselves. For this reason, we felt confident to work with them again on this iconic development on the former Leicester City Football Ground.” – JatinOndhia, CEO of Shojin Property Partners.
Both Shojin Property Partners and the developer will co-invest a combined amount of 25% of the equity required for this project. Funds will be provided in two tranches. The total investor requirement for tranche 1 is £1.35m, followed by tranche 2 which will be provided towards the end of the year and will be approximately £6.6m. Investors will receive a share of the profits once the project is completed and the development has been sold.
“Once completed the project will be sold to an institution or pension fund, all of whom are looking for investments with high yields such as student accommodation and PRS” said JatinOndhia.
Shojin Property Partners is authorised and regulated by the Financial Conduct Authority.
(FRN: 716765). Shojin Property Partners is a trading name of Shojin Financial Services Limited (company number 09697161) and the registered office is at Golden Cross House, 8 Duncannon Street, London, WC2N 4JF.
Company Name: Shojin Property Partners
Contact Person: Gareth Bain
Email: Send Email
Phone: +44 (0) 203 871 5959
Address:Golden Cross House, 8 Duncannon Street
City: London WC2N 4JF
Country: United Kingdom