Apollo House, a purpose-built student accommodation (PBSA) development in Coventry, has hit the market for £3m.
Apollo House on the Butts was last occupied in the summer of 2023, and it has stood empty since. The freehold property is vacant due to internal damage requiring repairs. Now the four-storey PBSA building, which includes 134 bedrooms, is up for sale.
With a Gross Internal Area of 34,008 sq ft, the scheme is located half a mile from Coventry Station and 0.9 miles from Coventry University. Each room at the scheme offers students a bright and airy environment and is furnished with either a single or double bed, wardrobe and a desk.
Apollo House also features well-planned communal areas on every floor, including kitchens, living and dining spaces, and laundry facilities.
The Estimated Rental Value (ERV) of the property, once refurbished, is in the region of £795,000 per annum in its current use as student accommodation. The scheme has been designed for student living, but there is also an opportunity to reposition the development as residential (C3), co-living (Sui-Generis) or hotel (C1), subject to obtaining the necessary consents.
A planning report commissioned in 2024 outlined the buildings potential uses, which included a 130-unit co-living scheme or a conversion of the existing building to provide 50 residential apartments, with the potential to add two additional stories to house a further 25 units.
Coventry is the 12th largest city in the UK. The area has undergone a significant transformation in recent years, marked by a growing population and several development initiatives, cultural and community projects.
