Coral agrees 840 bed student accommodation investment
Advised by CBRE, the Coral Student Portfolio (“Coral”), a fund that invests in student accommodation funds and joint ventures, has entered into a new investment, the Student Development Partnership. The partnership has invested in two new student housing sites; one in Coventry and the other in Birmingham. Both sites will be developed and operated by leading student accommodation provider, Victoria Hall Management (UK) Ltd.
Both schemes, which have a combined estimated end value of £50 million, are scheduled for completion in September 2013 ready to support that year’s student intake.
Located opposite the Coventry University campus, the Alma Road scheme will comprise 404 beds – helping to meet the university’s growing accommodation demands. Coventry University has seen applications increase 9% since 2010 according to figures from UCAS. The Birmingham scheme is adjacent to The University of Birmingham and will comprise 434 beds …