Recently announced acquisitions and developments of 2018

Student Housing January 16th, 2018
Recently announced acquisitions and developments of 2018

Arthur takes a look at recently announced acquisitions and developments within the student accommodation sector since the start of 2018 across the U.K!

Dundee

LXi REIT Plc is acquiring a student accommodation scheme for £20.25 million.  This 413 bed consisting of cluster flats, one bedroom flats and studios. Simon Lee, partner of LXi REIT Advisors said: ”We are pleased to have acquired the Dundee student scheme, which further diversifies the Company’s sector exposure.  The acquisitions provides a long-term, index-linked income stream at an attractive net initial yield, underpinned by an excellent location in a leading university city and a strong underlying trading performance.”

Sheffield and Colchester

Future Generation has secured a £35 m development finance deal with Maslow Capital where they will provide student accommodation in Steel City – Sheffield and Hythe Mills – Colchester. Since Future Generation has been launched, they have a secured a supply pipeline of over 1,000 beds and a projected 10,000 beds to be delivered over the next 5 years.

Steel City has been granted planning permission for 346 beds and Hythe Mills consists of 223 beds.

Ed Fisher, managing director of Future Generation, said: ”Since launching earlier this year, we have hit the ground running and our in-house development team has sourced some great sites throughout the U.K.  We are fortunate to have secured a great partner in Maslow, who understands the fundamentals of the purpose built student accommodation market and will be enable us to deliver product quickly.”

Newcastle

There is a new 207 – bed development at the former Tyne Tees site on City Road, developed by Opto Living and Opto Property Group.  This new development is on the luxury side with features including a gym, cinema, games room and should be delivered at the end of 2019.

Jerald Solid, business development and acquisitions director at Experience Invest, said: ”There is a high demand for purpose-built student rooms n Newcastle, with 64.6% of students unable to access university or private sector student accommodation. This large undersupply of rooms led to an impressive 4% annual climb in student rents last year.”

Exeter

Five student blocks, acquired by Legal & General for £76 m has recently been announced.  There are 517 bedrooms in total compromising of student rooms and ensuite cluster rooms.

Leeds

RG Group is looking at developing a 22 storey block accommodation in Leeds consisting of 350 studio flats.  The build is predicted to start in time for the 2019/2020 academic year.

You can learn more about our student property management software here.

Keep an eye out for Arthur’s blogs for all  the latest property news!

 

 

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