Leicester

Dover Street is situated in the heart of Leicester's vibrant student life. Offering charming and comfortable student accommodation within a community-focused living experience. The property is conveniently located near the university, dining, shopping and nightlife.

Investment Summary

Freehold

The property is freehold in title.

Unit Mix

135 bed spaces, comprising 18% studios and 82% en suite clusters.

Amenities

Lounge space and cycle storage.

Location

Access to the University of Leicester and De Montfort University.

Property Description

Dover Street was built in 2018. The asset provides 135 bed spaces arranged as 110 ensuite cluster bedrooms and 25 studios. The site includes maintained landscaping and some car parking. Amenities include communal lounges, cycle storage and laundry facilities.

The property is arranged as two blocks over ground and six upper floors. The asset requires remedial works to the external cladding. Consultant quotes have been obtained and this information can be found in the data room.

"Fantastic location and rooms are very spacious and clean with all the amenities a student would wish for. The building is very well looked after. Definitely recommended if you need accommodation in Leicester!"

Dover Street

Leicester

Market Commentary

Supply

Leicester's Purpose-Built Student Accommodation (PBSA) supply is split between university-owned and privately managed accommodations, with 37% being university-owned as of the 2023/24 academic year.

Pipeline

Leicester’s PBSA pipeline is remarkably thin. The pipeline consists of the Marble Street development, which is set to provide an additional 61 beds through a mix of cluster flats and studios.

Demand

Leicester is home to a large student population, including those attending the University of Leicester and De Montfort University. Despite the provision of PBSA, there is a notable gap between the number of students and available beds. Specifically, the city hosts around 45,005 students but offers just under 20,000 PBSA beds, illustrating a considerable imbalance that impacts over 56% of the student body who are unable to access PBSA​.

45,005

Total Students

31,745

Domestic Students

13,260

International Students

Universities

Leicester is home to two prominent universities: the University of Leicester and De Montfort University, both known for their strong academic programmes and diverse student communities. The University of Leicester excels in research and innovation, particularly in fields like genetics and space science, while De Montfort University is celebrated for its practical courses and strong industry connections. Together, these institutions offer a rich and vibrant student life, with numerous opportunities for personal and professional growth.

The lifestyle of
Leicester

As a cosmopolitan and culturally diverse city, Leicester has a population of about 300,000 and university students make up about 20% of those, giving the city a young and vibrant social scene. The city is home to amazing places to eat, drink, shop, explore and party the night away.

Culture and History

Leicester truly comes alive in the summer with a plethora of festivals. From the Leicester Riverside Festival, where the waterside transforms into a canvas of colours, to the Leicester Caribbean Carnival. Immerse yourself in Leicester's rich history and culture with a visit to the King Richard III Visitors Centre, wander through the New Walk Museum, or catch a live performance at the Curve Theatre. Immerse yourself in old masters, be transported to ancient Egypt and discover a Jurassic world as you explore 15 galleries of prized historical collections for free at the Leicester Museum & Art Gallery. In recent years Leicester’s streets have become a homage to the city’s rich, artistic heritage, with urban street art emerging around every corner thanks to Bring the Paint Street Art Festival; the biggest street art festival in the UK.

Staying active

If you’re feeling active, don your outdoor gear and explore Leicester's parks. Victoria Park offers lush greenery, tennis courts and a boating lake. Abbey Park is one of the city’s top outdoor spots – divided in two by the River Soar and complete with historic locks, striking murals, a boating lake, miniature railway and ancient abbey ruins, it’s the perfect space to relax and admire Leicester’s riverside scenery. If you don’t want to stray too far from the centre, visit one of Leicester’s local parks – with 190 in the city to choose from, there’s sure to be one close by.  Leicester’s botanic garden also features plant collections from around the world making it one of the most diverse gardens in the region.

Sports

Twenty major rugby union titles. Ten major basketball titles. Six women’s hockey league titles. Three Twenty20 Cups. Three League Cups and one glorious Premier League title. Leicester punches above its weight when it comes to sporting success. With one of the most successful women’s hockey clubs in the UK, a basketball club that’s riding high and a football club that surprised the world when it became Premier League champions in 2016, Leicester has built a reputation as a city for sports lovers.

Eating and Drinking

Discover all that Leicester’s foodie scene has to offer – from Asian street food, Neapolitan pizzas and tastes of South America to mouth-watering vegetarian and vegan cuisine. Leicester also has the second highest number of Indian restaurants per capita in the world – outside of India, of course – Leicester is renowned for its true Indian flavours and cuisine; curry-lovers will be spoilt for choice.

Distance & travel times

University of Leicester Campus
De Montfort University Campus
Leicester City Centre  
Leicester Cathedral or Highcross Shopping Centre
Walking
By Bike
By Bus
20 min
10 min
15 min
Walking
By Bike
By Bus
15 min
10 min
10 min
Walking
By Bike
By Bus
5 min
2 min
2 min

Accommodation Schedule

Room Type
No. Units
Standard Ensuite
40
Standard Ensuite
53
Classic Ensuite
6
Premium Ensuite
11
Standard Studio
12
Classic Studio
8
Premium Studio
5
Total
135

AY 24/25 Income summary and projected NOI

£1,016,442

Gross Operating Income
(Assumes 98% Occupancy)

£442,260

Operational Expenditure

£574,182

Net Operating Income

Rental Comparables

41 Castle Street by Host Students
Grosvenor House  by iQ Student
Merlin Heights by Collegiate AC
Room Type
Rents from (2024/2025)
Weekly Term
Bronze En Suite
£153 - £158
44 - 51
Silver En Suite
£156 - £161
44 - 51
Gold En Suite
£158 - £163
44 - 51
Platinum En Suite
£161 - £168
44 - 51
Platinum En Suite Plus
£163 - £168
44 - 51
Twodio
£148 - £153
44 - 51
Gold Studio
£182 - £187
44 - 51
Room Type
Rents from (2024/2025)
Weekly Term
Small En Suite
£134
44
En Suite
£138
44
En Suite Plus
£132
51
Large En Suite
£148
51
Small Studio
£153
44
Studio
£199
44
Large Studio
£200
51
XL Studio
£209
44
Room Type
Rents from (2024/2025)
Weekly Term
Bronze En Suite
£152
44
Silver En Suite
£157
44
Gold En Suite
£161
44
Bronze Studio
£164
51
Silver Studio
£169
51
Gold Studio
£169
51
Platinum En Suite
£170
44
Gold Plus Studio
£179
51
Platinum Studio
£204
51

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