Moda set for Sheffield debut with new £136m resi scheme
The BTR developer-operator plans to create 410 new homes alongside 2,600 sq ft of commercial space …
AXA IM Alts acquires c. €423 million (¥58 billion) of multi-family and purpose-built student accommodation assets in Japan
AXA IM Alts, a global leader in alternative investments with c. €188 billion of assets under management1 , announces that it has acquired €423 million (¥58 billion) of Japanese residential assets. The two separate transactions comprise a portfolio of twenty-nine multi-family residential assets and a portfolio of four student accommodation assets. Both acquisitions have been made on behalf of clients through AXA IM Alts, which is the leading real estate portfolio and asset manager in Europe2 .
The 1,482 unit multi-family portfolio comprises twenty-nine high-quality assets, all of which have been built in the last two years, with a high weighting to studio apartments. The majority of assets feature shared common facilities including auto-locking entrances, delivery boxes, and high-quality interiors. The portfolio is located in high density neighbourhoods within Greater Tokyo and Osaka, all of which have excellent transport links to the CBD….
Housing crunch leaves UK university students without halls
Students who begin courses at several UK universities next month have been
stranded without accommodation after being told there were no rooms available
for them in university halls.
First-year undergraduates at the University of Glasgow, Manchester Metropolitan
University and the University of the West of England in Bristol were informed this
month that they would have to find their own rooms owing to the lack of space in
halls.
The accommodation crunch comes as rental markets are exceptionally tight in UK
cities and follows similar problems last year when some universities accepted more
students than they had planned for …
PBSA revealed to be the best choice for students amid cost of living crisis: Knight Frank
As living costs for students in some areas of the UK balloon to £16,500 per year, the latest research released by Knight Frank reveals that this figure is set to increase in the coming months ahead of the sharp rises in rents, bills and utilities which are a result of the ongoing cost of living crisis.
The global property consultancy analysed the current difference in cost between an all-inclusive ensuite room within purpose-built student accommodation and a room in a shared house within the wider private rented sector marketed at students and found that PBSA could be the most cost-effective solution for students looking to avoid the ongoing cost of living crisis …
Harrison Street joint venture to develop Leeds student scheme
Circa 550-bed scheme marks the sixth project in the UK for the partnership …
Amro’s Iberian PBSA portfolio hits multiple project milestones
Amro Partners has achieved several project milestones this summer as it continues the expansion of its Iberian purpose-built student accommodation (PBSA) portfolio, which was announced earlier this year.
The portfolio will be the best-rated set of assets from an ESG/sustainability perspective within the European living sector. Amro has secured BREEAM Outstanding, Fitwell 3* and WiredScore Platinum ratings on its development projects in Seville, Valencia, Pampolona and Madrid, which are to open in 2022 and 2023, with further projects under development in Lisbon and Salamanca targeting the same credentials.
The development of Amro Seville, a 339-bed, sustainability-leading student housing project in the heart of the city’s university hub, is now complete. Leasing for the first operational year is progressing significantly ahead of target. The EPC ‘A’ rated asset will produce operational emissions of just 11.2kg CO2 / sqm per year, achieving a 75% improvement in efficiency standards compared to the current market standard, and a 12% improvement over the challenging RIBA 2025 target.
Where London students will live in the next decade (and why the London Plan is failing them)
London is the epicentre of the United Kingdom’s, and arguably the world’s, higher education system generating £17 billion of goods and services in 2020 according to the CBI. With more than 50 universities, the capital is a popular destination for UK and international students, and home to four of the world’s top 50 universities.
In the 2020/21 academic year, there were an astonishing 370,000 full-time higher education students studying in London, which is around four times the 97,000 Purpose-Built Student Accommodation (PBSA) beds available; a student-to-bed ratio that is almost tragically inadequate. Growth in full-time students from 2015/16 to 2020/21 was 80,000, equivalent to adding the University of Birmingham and Nottingham Trent University to the capital in just five years. HEPI’s 2020 report, Demand to 2035, foresees continuing significant student growth in London …
Unite Group sales exceed pre-pandemic levels in Q2 2022
Unite Group shares were up 1.4% to 1,122p in early morning trading on Friday following a confirmation of high demand in sales over Q2 2022, with 90% of student rooms sold for the 2022 to 2023 academic year, exceeding pre-pandemic levels of 89%.
The student accommodation firm reported positive pricing progress, particularly as the impact of Omicron eased, with progress driven by inflation-linked rental uplifts for its multi-year nomination agreements and strong demand for direct-let beds.
Unite commented it expected to deliver occupancy rates of 97% for the next academic year and hit rental growth at the top end of its guidance at 3% to 3.5% …
Related Argent and Fusion team up for £210m PBSA scheme in north London
Property developers Related Argent and Fusion are joining forces to build and manage a 662-room, purpose-built student accommodation (PBSA) development at Brent Cross Town, north London …
KKR Strikes $725 Million Deal to Sell Student-Housing Properties
KKR & Co. has sold seven US student-housing properties to Harrison Street, a deal that shows continued strength for the sector even as other residential and commercial real estate markets cool.
The price for the portfolio, with 4,500 beds, was $725 million, according to people with knowledge of the deal. Representatives for KKR and Harrison Street declined to comment …