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k LiverpooLon the instructions of DAviD crAwshAw AnD robert croxen of kpMg LLp, the Joint ADMinistrAtors of opAL Aigburth LiMiteD, in ADMinistrAtion

investMent suMMAry█ freehold 443 bedroom purpose built student accommodation property

█ the scheme is made up of three blocks of accommodation; st Michaels, st Julies and the trinity building

█ the scheme lies within a predominantly residential suburb of Liverpool

█ the property benefits from two leases to Liverpool hope university, both expiring 16 september 2024 (11.5 years remain). At expiry, the university has a right to buy back the asset for £1

█ rent reviews are annual to rpi with a cap of 3.5%

█ strong residential under-pinning value

█ Affordable student accommodation option

█ there are approximately 54,780 full time students studying within Liverpool. of the full time students, only 30% are able to be accommodated in purpose built student accommodation

█ Approximately 8,000 students studying at Liverpool hope university

█ Derwent Living are the new manager and will operate the property for a fixed period of 3 years, subject to Landlord’s options to break on 3 months notice

█ forecast gross rent of £1,306,063 for the 12/13 academic year

Aigburth pArk LiverpooL, L17 7JQ

LocAtionthe scheme, built on a 1.54 ha / 3.81 acre site in the Liverpool suburb of Aigburth is approximately

3 miles to the south of Liverpool city centre. the properties make up a substantial part of Liverpool

hope university’s - Aigburth park campus.

the Aigburth park campus is set within the st Michaels hamlet conservation area.

there is a dedicated university shuttle bus service to the main campus at hope park which takes

between 15-20 minutes and approximately 2.5 miles to the north east. four trains per hour leave

from st Michael’s station for Liverpool Moorfields station in the city centre providing access to the

‘creative campus’ and city centre amenities. there are also public buses accessible at the eastern

end of st Michaels road with services to the city centre and past the main hope park campus.

the surrounding area is predominantly residential.

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University ofLiverpool

Liverpool HopeUniversity

Liverpool John MooresUniversity

LiverpoolLime Street Station

Liverpool

AIGBURTHPARK

St Michael’s

TRAVEL TIMESTo Main University Campuses

• bus – 15 mins to Liverpool hope university (hope park campus) this is free and runs 4 times a day. 15 mins via no’s 61 and 161 to Aigburth park and Liverpool hope university (hope park campus), 15 mins to university of Liverpool via no’ 82. 12 mins to LJMu via no’ 82

• walking – 48 mins to Liverpool John Moores university (main campus); 52 mins to university of Liverpool (main campus); 1 hour 2 mins to Liverpool hope university (main campus)

• cycling – 18 mins to university of Liverpool (main campus); 16 mins to Liverpool John Moores university (main campus); 19 mins to Liverpool hope university (main campus)

• Distance – 2.6 miles to university of Liverpool (main campus); 2.5 miles to Liverpool John Moores university (main campus); 3.2 miles to Liverpool hope university (main campus)

To City Centre

• walking – 1 hour 1 min • cycling - 24 mins • Distance – 3.1 miles

To Liverpool Central Station

• walking – 53 min • cycling - 20 mins • train – 9 mins (every 15 mins)

23.8m

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24.4m

23.2m

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Area : 1.541 ha (3.809 acres)

0m 10m 20m 30m

Ordnance Survey © Crown Copyright 2011.All rights reserved. Licence number 100020449. Plotted Scale - 1:1300

Ordnance Survey © Crown Copyright 2011.All rights reserved. Licence number 100020449. Plotted Scale - 1:7500

Aigburth pArk

st Julies Accommodation summary

All rooms are provided as standard single bed spaces with wash basins included.

st Michael’s Accommodation summary

st Michaels comprises phase 2 of the development at Aigburth park, opened in september 2002. the

building was added in 2001/2002 to the southern end of the site providing a total of 220 new en-suite

bedrooms configured as 3, 4, 5 and 6 bed cluster flats and are roughly equal size of 10.2m². the building

is configured around a central courtyard from which all the flats are accessed off four stair core with external

access in the corners of the courtyard.

All rooms within st Michael’s flats are provided as single ensuite cluster flats.

the third building on site, the trinity building, is contemporary with the original halls and

is a large single storey building with rotunda elevations to the northern end of the scheme.

the building houses the student reception and additional ancillary spaces to include:

• student reception, management suite and security office

• Large student common room with table top games, vending and projector screen with

seating and sofas for approximately 100 (former halls canteen)

• Large former kitchens and staff changing and administration areas (now in use as

management stores

• coin operated laundry with 6 washers and 6 driers (relatively low proportion of machines

to students)

• computer room including 12 terminals (provided & maintained by the university)

• unisex wcs (3 cubicles and 4 wash basins)

we understand that the computer equipment within the computer room is provided and

maintained by the university. wall mounted cctv system linked to management suite

with secured gated access to site. the scheme is covered by 24 hour manned site security

provided by 4 maintenance staff on rolling shift pattern.

car parking is available for circa 55 cars, 49 of the spaces are made available for students

to rent.

bicycle store for approximately 60 bicycles located adjacent to the gated entrance.

Access to the site is controlled by key fob to the perimeter access points on st Michaels road

and the access points for the st Michaels block and by traditional keys to the individual flats.

fLAt type fLAts no of LettAbLe beDs

8 beDrooM fLAt (7 LettAbLe)

3 21

9 beDrooM fLAt (8 LettAbLe)

14 112

10 beDrooM fLAt (9 LettAbLe)

10 90

totAL 27 223

fLAt type fLAts no of beDs

3 beD fLAt 2 6

4 beD fLAt 4 16

5 beD fLAt 18 90

6 beD fLAt 18 108

totAL 42 220

Descriptionthe scheme is made of three blocks of accommodation st Julies, st Michaels and the trinity building. st Julies

is a traditional accommodation scheme of student flats providing 250 rooms in 27 flats with shared facilities

and was built in 1955. each flat has a kitchen and living room with a bath/shower rooms and a separate wc.

A total of 27 bedrooms (1 in each flat) have been recently furnished as additional communal lounge areas

at the request of the university. therefore a total 223 lettable rooms can be allocated by the university to

their students within this element.

heating is supplied to each flat via a wet radiator heating system driven by a large calorifying boiler at

basement level below the flats.

operAtorthe property has historically been owned and operated by opal. the operation of the property has

been taken over by Derwent facilities Management Limited (Derwent fM), a fully owned subsidiary of

Derwent Living. Derwent Living is a not-for-profit organisation providing the full spectrum of support

services to student, commercial and public sector property. formed in 1964, Derwent has been operating

for over 15 years in the student sector and currently operate over 4,000 student units. Derwent Living

have a net worth of over £400m.

LiverpooL stuDent MArketLiverpool is home to four main higher education providers; the university of Liverpool, Liverpool John

Moores university, Liverpool hope university and Liverpool institute of performing Arts. in summary

there are a total of 54,780 full-time students within Liverpool (hesA 11/12).

of the 54,780 students, 43,610 (80%) are full-time and are likely to require student accommodation over

the life of their studies. of these full-time students, 38,145 (87%) are undergraduates and 5,465 (13%)

are post-graduates. the total number of international students is 8,135 (19%) with 1,445 (18%) from

inside the eu and 6,690 (82%) from non-eu countries.

the university of Liverpool is ranked 29th and Liverpool John Moores is ranked 93rd in the times good

university guide 2013. occupational demand for student accommodation in Liverpool remains robust

with an increase in full time student numbers of 6.1% from 2010/11 to 2011/12. in particular, Liverpool

has experienced an increase in international student numbers of 7.7% from 2010/11 to 2011/2012.

circa 10,226 (18%) full time students are offered accommodation by universities in “halls of residence”.

A further c6,090 (11%) of students are offered accommodation by private sector landlords in purpose

built accommodation. Accordingly, c38,464 (70%) full time Liverpool based higher education students

are unable to access university or private sector purpose-built accommodation.

LiverpooL hope university Liverpool hope university was re-constituted in 2005 and is the only ecumenical university in europe with

a current student population of just under 8,000.

More than a quarter of the academics were entered for the 2008 research Assessment exercise - a higher

proportion than most comparable institutions. the university was identified as producing ‘world leading

work in theology and Appealed social sciences’.

the university has a dual campus in a world-class location - european capital of culture in 2008.

the university provides an affordable, high quality student experience - Liverpool is the second most

cost effective student city in the uk (natwest student Living index 2009) and ranked first out of 15

russell group institutions for satisfaction with the cost of living, accommodation cost, financial support,

assessment, feedback on coursework and visa advice (international student barometer 2008, i-graduate).

rooM type nuMber of beDs contrAct Length AverAge rent

per weekgross rent for 2012/13

AcADeMic yeAr

standard single 223 52 £56.72£1,281,063

single en-suite 220 52 £56.72

sundry & vending income £25,000

total gross income £1,306,063

opal budgeted operational costs 2012/13 -£301,000

total net income £1,005,063

incoMethe property is subject to two leases with Liverpool hope university expiring 16 september 2024. the

current income receivable from these leases for the 2012/13 academic year is £1,281,063.15. rent

reviews are on an annual basis to rpi, capped at 3.50%. the structure of the leases allows the university

to purchase the freehold interest of the properties for a nominal price of £1 at expiry of the leases.

the landlord retains responsibility for all repairs, maintenance and insurance whilst the tenant is

responsible for utilities and internet costs. the leases are subject to a standard service level agreement.

in practice the university control student allocations, grant individual tenancy agreements, receive rental

payments and deposits and provide pastoral care for students at Aigburth park.

Savills (UK) Ltd 1st Floor Lansdowne House 57 Berkeley Square London W1J 6ER

savills.co.uk

iMportAnt notice

savills, their clients and any joint agents give notice that: 1: they are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either on their

own behalf or on behalf of their client or otherwise. they assume no responsibility for any statement that may be made in these particulars. these particulars do not form part of any offer or contract and

must not be relied upon as statements or representations of fact. 2: Any areas, measurements or distances are approximate. the text, photographs and plans are for guidance only and are not necessarily

comprehensive. it should not be assumed that the property has all the necessary planning, building regulation or other consents and savills have not tested any services, equipment or facilities. purchasers

must satisfy themselves by inspection or otherwise. 05/13 288547

further inforMAtion

for more information please contact:

Marcus roberts Mrics

0207 016 3799

07807 999 187

mroberts@savills.com

James hanmer Mrics

0207 016 3711

07676 555 897

jhanmer@savills.com

Lizzie whetman Mrics

0207 016 3863

07807 999 174

lwhetman@savills.com

vAt

the building is not elected for vAt.

epc rAting the epc energy efficiency rating for this residential property is c (64).

cApitAL ALLowAnces

we understand that unclaimed capital allowances of approximately £471,660 were available at year end 30th september 2011.

tenure

the property is held freehold subject to a tenant’s option to purchase the freehold for £1 at expiry of the lease.

pLAnning

planning consent was granted for phase 2 on 30th october 2001 under planning reference 99p/0276 ‘to erect a part four–storey/part three–storey/

part two–storey block containing 42 self-contained flats comprising 221 bedrooms for student residences; to lay out 28-space car park and associated

landscaped area’.

proposAL

savills are instructed to seek unconditional offers for the freehold of the property by 12pm on the 7th June. Multiple Dwelling relief may be applicable

to a purchase of the property subject to further investigation.

DAtA rooM

the data room can be accessed via www.savills.com/opalassets-kpmg

Aigburth pArk LiverpooL, L17 7JQ