The Student Hotel to roll out 2bn euro European investment plan
The Student Hotel has announced the opening of it’s second project in Germany next to the iconic Alexanderplatz …
News Articles
Unite Students sells on two major assets for £96m – Coventry
Bristol-headquartered Unite Students has disposed of two wholly owned properties in Coventry for £96m.
The UK-wide owner, manager and developer of student accommodation has revealed the properties comprise 1,127 bedrooms for a total of almost £100m.
The properties are being sold to Mapletree Investments Pte Ltd, and have both now been exchanged and completed. The purchase price is in line with book value …
Future Generation secures planning permission for Cambridge scheme
Developer Future Generation has secured planning permission for a £25m student scheme in Cambridge.
Most of the accommodation will consist of rooms with shared living and kitchen facilities, however there will be 20 self-contained studio apartments will also be provided.
Future Generation is the purpose-built student accommodation (PBSA) arm of developer Southern Grove …
Two student developments sold for £96m: Coventry
Two student developments in Coventry have been sold by Bristol-headquartered accommodation provider Unite for a total of £96m.
Callice Court and Millennium View, which offer 736 and 391 beds respectively, have been sold to Singapore-headquartered Mapletree Investments.
Unite retains a presence in the city through its Gosford Gate and Raglan House properties …
Watkin Jones Progresses On Strategy With Forward Funding For 3 Sites – UK
Watkin Jones PLC on Thursday said it has completed forward funding for a mixed student accommodation and build to rent site in Sheffield and two more build to rent developments elsewhere.
The company, which develops multi-occupancy residential properties, said the Sheffield site has 691 student beds plus 71 build to rent units and is located near the University of Sheffield. The forward funding took place between Watkin Jones and AIG Global Real Estate, with the consideration payable to Watkin Jones totalling around GBP61 million.
Watkin Jones also forward funded two build to rent developments to M&G Real Estate, one in London and one in Bournemouth. The consideration was GBP90 million and they take total transactions with M&G Real Estate to five …
Global Living 2019 – Savills
People of all ages are embracing flexible living and working. The rise of the gig economy, more sophisticated mobile technology and a drive for collaboration made co-working a global phenomenon. The residential sector is now undergoing a similar transformation. Happy to share office space with relative strangers, more people are now willing to adopt the same approach for living.
This comes as a global demographic shift is underway. While populations in much of the developed world are ageing, populations in much of Africa and parts of Asia are forecast to remain youthful. Even in ageing countries, certain cities remain attractive to young, mobile and well-educated professionals. This creates opportunity for providers of flexible forms of accommodation, for both the young and old. Understanding where the hotspots for such age groups are will be key to maximising this opportunity.
Changing attitudes to home ownership are reinforcing these demographic trends. The Global Financial Crisis (GFC) was a turning point. In Spain, the recession changed homeownership from a symbol of stability and security to one of financial risk. In the UK and Ireland, first time buyers have been impacted by more stringent mortgage lending requirements. The aspiration for home ownership hasn’t gone away, but the better quality purpose-built rental product on offer is making renting a desirable option, rather than a last resort …
Hines Global Income Trust acquires Glasgow student accommodation development from Bricks Capital
The Hines Global Income Trust (Hines Global) has acquired a 607-bed operational student asset in Glasgow for GBP72 million.
The award-winning true Glasgow West End was named ‘Private Halls of Residence of the Year’ at Property Week’s prestigious Student Accommodation Awards in 2018. The development of true Glasgow West End was completed in 2017 by Bricks Capital, a London-based property development, hospitality and management group. The iconic building currently boasts a 100% occupancy rate.
Located on Kelvinhaugh Street, the development is a 10 minutes’ walk from the University of Glasgow and is within easy reach of all the amenities the West End has to offer as well as the city’s four other higher education institutions; the University of Strathclyde, Glasgow Caledonian University, Glasgow School of Art and the Royal Conservatoire of Scotland …
Student co-living to attract $700M investment in 5 years, says report: India
The student housing segment in India will see an investment of $700 million by 2023.
The student co-living segment is witnessing a rapid growth across all the major markets in the country, and is expected to witness a growth of 36 percent between 2019 to 2023, a report by realty consultant CBRE and the Student Accommodation Provider Association of India (SAPFI) said …
Unite disposes of two assets for £100 million to USAF
The Unite Group plc, one of the UK’s leading owners, developers and managers of student accommodation, today announces the disposal of two assets for £100 million (Unite share £75 million) to the Unite UK Student Accommodation Fund (“USAF”), representing a net initial yield of 5.5%. The assets are located in Birmingham and Newcastle and comprise a total of 1,155 beds.
In addition, USAF announces the launch and pricing of £85 million of bonds issued under its existing debt funding platform, the 3.921% bond due June 2025. The new issue is being placed at a premium to par generating total proceeds to USAF of £95 million, reflecting an implied yield of 1.83%. The proceeds will be used to fund further growth in the fund.
Unite’s share of the new debt represents approximately 2% of the Group’s total borrowings, on a see-through basis, as at 30 June 2019. The issue supports a further marginal reduction in the Group’s cost of debt …
Singapore investors buys into £30m Edinburgh student housing development
A Singapore-based private equity firm is backing plans for a £30 million student housing development in Edinburgh in the latest sign of investor enthusiasm for the sector.
Q Investment Partners has bought the site of the proposed 198-bed opposite the former Meadowbank Stadium with UK development business HGD.
The two firms have formed a partnership that will look for other opportunities in the purpose built student accommodation (PBSA) market …