Future Generation secures permission for £80m mixed-used scheme in Hackney Wick
Student accommodation provider Future Generation has secured planning permission for The Vogue, a mixed-use scheme in Hackney Wick …
The Collective gets greenlight for Stratford tower
The Collective has received a resolution to grant planning permission from the London Legacy Development Corporation to transform a site on Stratford High Street into a new public destination for the local community …
Manchester looks to put brake on co-living developments
Manchester’s political leaders are being urged to place strict controls on the number of co-living schemes approved in the city until a proper policy can be developed for the housing model.
A report to a meeting of the city council’s executive this week argues that purpose-built and professionally managed shared-housing developments could be detrimental to the city’s housing market and the authority’s finances – and questions the demand for them.
Strategic director for growth and development Eddie Smith said there were solid grounds for supporting co-living developments in only “a very limited number of places, in restricted amounts, within the city centre” and where developers could robustly evidence need …
Funds need to get smart: Why the future is in residential, not retail, assets
Austrian-born architect Victor Gruen is widely recognised as the father of the modern shopping centre, designing the first purpose-built outside shopping mall called Northland Mall near Detroit in 1954.
The post-war economic boom allied to the rapid rise in consumerism saw shopping centres become a global phenomenon. Such was the success of the Austrian-designed, American-born shopping centre that it is said that while Gruen tried to make America more like his hometown of Vienna, he ended up making Vienna more like America.
But, times have changed. Over the last decade or so, physical bricks and mortar retail in the UK has become distressed, with online shopping certainly playing its part. High street name after high street name has fallen into administration over that time as shoppers swapped the queues for shopping on their smartphones …
RM Funds leads £40m student accommodation refinancing for UNINN
Investment trust RM Funds has completed a £40m refinancing for UNINN, the UK student accommodation provider. The deal, made with Industrial and Commercial Bank of China, refinances four operational student accommodation assets comprising 640 beds across Newcastle, Sheffield, Leicester and Coventry …
Russell Group universities unite to tackle climate crisis
The Russell Group universities in the United Kingdom have pledged to tackle climate change through research, teaching and more sustainable practices. In a joint statement released last Tuesday, they said the “global environmental and ecosystem challenges are urgent and real”, reports Study International …
Why 2020 could be a strong year for the UK’s PBSA sector
A new student housing report from global real estate firm JLL has revealed that the outlook for UK PBSA (purpose-built student accommodation) is positive, with strong occupier demand forecasts set to attract continued investor interest in the sector
However, challenges remain as a fall in construction levels and rent affordability are impacting development activity.
With rising demand for higher education, JLL predicts that full-time student numbers will rise by a further half a million by 2030. As such, PBSA has become a lucrative ticket for real estate investment and, according to the company’s Student Housing Report, investor appetite remains robust due to its defensive, income-producing characteristics …
M&G buys London student accommodation building for £79m
M&G has bought one of the two remaining student accommodation buildings in Blackrock’s Onyx Collection …
Scape strikes $2b Urbanest deal in year’s biggest single property sale – Australia
In the biggest single property transaction this year, student accommodation provider Scape Australia has struck a deal to acquire the $2 billion portfolio of dorms run by Urbanest.
The deal follows on the heels of its $680 million acquisition of the Atira portfolio …
UK Student Accommodation Report 2019/20 – Cushman & Wakefield
The Student Accommodation Annual Report 2019 provides a unique insight into the trends in demand, supply and investment during the sector’s year to date.
Headlines include:
- 87% of all new beds delivered by private sector providers, the joint highest proportion on record
- Demand for student accommodation continues to rise around 30% faster than number of beds developed
- 114,000 Purpose Built Student Accommodation (PBSA) beds in the pipeline, two thirds have full planning approval
- Deals worth £2.5 billion transacted by end of October 2019 with a further £2 billion under offer