GSA enters Milan market with Trentacoste PBSA acquisition

November 28th 2024 - Posted by

GSA continues to implement its European growth strategy with the acquisition of the 515-bedroom Trentacoste development site in Milan. The company’s market entry is the next step in executing its strong investment pipeline as the company builds scale across key Italian and European cities.

The strength of GSA’s global experience and expertise in developing and investing in PBSA has supported the underwriting and investment plan across Italy.

With its strong European presence coupled with significant investment experience in the region, GSA is strategically positioned for growth …

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Vita Group launches uhaus all-inclusive BTR brand

November 6th 2024 - Posted by

Vita Group has launched uhaus, a BTR brand which includes bills, cleaning and other services included in the rental price.

Vita Group opened the doors to its first BTR scheme at the start of 2021. Vita Living Circle Square East was the first of two towers at Manchester’s Circle Square development to open with its North tower opening in Q3 of 2021. Amenity rich, with resident lounges featuring places to work from, a gym, private dining rooms, the buildings achieved stabilised occupancy ahead of schedule.

The new brand has been conceived to cater for post-pandemic flex living. Russell Hayes, Vita Group director of residential, said: “Let’s be clear, Vita Living was and would still be considered a state-of-the-art build-to-rent brand, offering a product which provided a very high standard of urban living. However, our habits surrounding the way we live and work have changed more over the last five years than they have in the two decades which came before them, and whilst today there are BTR products launching to the market which mirror Vita Living’s product offering, we strongly believe that that product offering doesn’t meet the needs of today’s residents. Through regular in-building research, as well as Vita Group’s large research projects, we identified that new working and living habits required new, purposefully designed spaces to create a cohesive build-to-rent ecosystem for today’s resident. It’s why we’ve invested millions into what we believe represents the future of BTR, uhaus, a brand which aims to tilt the balance of daily life in your favour.” …

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Amro joins forces with Invesco Real Estate to target Iberia

October 31st 2024 - Posted by

Amro Partners has joined forces with Invesco Real Estate, the USD 90bn global real estate investment business of Invesco Ltd. (NYSE: IVZ), to pursue opportunities in the Iberian residential market, starting with the acquisition of two new projects in Spain.

The first project will comprise 400 new student beds in northern Spain, a 15-minute walk from one of the biggest and most renowned universities in the country. In Madrid, the development will feature 166 beds in the Moncloa-Aravaca district, in the northwest of the city, close to several university campuses including Moncloa – the main university campus in Madrid …

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Sama secures planning for Charter House PBSA

October 23rd 2024 - Posted by

Birmingham-based developer and investor – Sama Investment Group – has secured planning approval by councillors for Charter House, a 130-bedroom PBSA at the edge of Coventry city centre.

The development will see an industrial site on Charterhouse Road transformed to deliver a new PBSA scheme across four and six-storey buildings.

This is accompanied by a dynamic range of amenities including study areas, lounges and a gym. Outdoor courtyard space and garden areas overlooking Sherbourne River are also included in the proposals, with the aim of maximising the student experience and wellbeing, within a natural environment …

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Cain & Olympian Homes acquire St James House PBSA

October 18th 2024 - Posted by

Cain International has announced its acquisition and redevelopment plans for St James House in partnership with UK-based real estate developer, Olympian Homes.

The scheme, set to be the tallest in Bristol at 28-storeys, will provide 574 beds and brings Cain’s purpose-built student accommodation (PBSA) equity platform to a total gross development value (GDV) of approximately £800m.

This represents the delivery of 3,000 beds across the UK, following the development of five PBSA assets completed in 2023 …

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Unite Students to build 41-storey Meridian Square PBSA

October 10th 2024 - Posted by

Student accommodation provider Unite Students is set to build a landmark PBSA development, Meridian Square, in east London. It will be among the biggest in its portfolio.

Unite Students has acquired the Stratford site next to Meridian Steps near Westfield Stratford City shopping centre.

The company has also received full planning permission for the scheme, which was supported by University College London. The development is expected to complete in 2028.

The Meridian Square scheme will deliver 952-beds in a 41-storey building. 333 beds will be let at affordable rents, 30 beds will be in self-contained studio flats, and the remaining are in shared flats of five to ten bedrooms. One in ten bedrooms will also be wheelchair accessible …

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Canada Life secures planning for Bristol PBSA

October 8th 2024 - Posted by

Canada Life Asset Management have been granted planning permission for the development of a new purpose-built student accommodation development (PBSA) scheme, in partnership with the University of the West of England, Bristol (UWE).

The site will be close to UWE’s Frenchay campus, and will include 330 student bedrooms. Bowmer and Kirkland has been selected as the main contractor and works are due to start in Q3 2024 …

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McAleer & Rushe announce completion of The Place PBSA

September 13th 2024 - Posted by

McAleer & Rushe have announced practical completion at The Place, a new PBSA scheme in Nottingham for MRP Investment & Development.

Achieving practical completion on 23 August, the 11-storey ‘L’ shaped layout development offers 409 new student residences in Nottingham city centre, serving as a spectacular addition to their growing portfolio of PBSA projects in the Midlands.

Located on a brownfield site at the junction of Queens Road and London Road, The Place PBSA development is next to Nottingham Railway Station.

The Place scheme offers students stunning panoramic views of the city and a host of amenities including a sky roof lounge, gym, private dining room, and dedicated study spaces designed to elevate the student living experience …

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£84.5m secured to support delivery of student accommodation on former Royal Mail site in Nottingham

August 1st 2024 - Posted by

Bricks Group, development and management specialists in the student and co-living sectors, has secured £84.5m in funding from London Wall Lending to support the delivery of high-end Purpose-Built Student Accommodation (PBSA) on a former Royal Mail site in Nottingham.

The landmark new scheme will see the transformation of the former Bendigo Building site in the center of the city, which lay vacant for nearly two decades before its demolition in 2023. Once complete, the scheme will contain 752 beds over 13-storeys, with the potential to rise to 781 beds subject to planning permission.

The accommodation will be managed by Bricks’ in-house operating brand, true student, building on its brand portfolio of more than 7,000 beds across the UK. It will also provide a range of indoor amenities and landscaped gardens as well as commercial units on the ground floor for residents and the neighbouring community …

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Unite Students releases positive six-month interim figures

July 25th 2024 - Posted by

Unite Students, the UK’s largest provider of purpose-built student accommodation (PBSA), has released interim results for the six months ended 30 June 2024. The figures show a positive start for the business in 2024, as they aim to expand their accommodation offering to students.

The company provides homes to 68,000 students across 151 properties in 23 leading university towns and cities and currently partners with over 60 universities across the UK.

“We have had a strong first half, with 14% growth in adjusted earnings underpinned by full occupancy, rental growth and substantial investment into our platform and portfolio.

“There is an acute and growing shortage of student homes, which is amplified by a shrinking private rental sector and depressed levels of new PBSA development. Unite has a crucial role to play in partnering with universities to deliver new supply of high-quality, affordable accommodation where the need is greatest, which also frees up local family homes in the process. Our development pipeline has grown to a record £1.5bn for delivery into the strongest university markets, including our first university joint venture with Newcastle University.

“We are uniquely positioned to secure further opportunities to support the growth of our university partners through our long standing and trusted relationships, in-house development capability and best-in-class operating platform.

“Our alignment to the UK’s strongest universities, alongside a growing range of attractive investment opportunities and a more supportive policy environment, puts us in a strong position to deliver continued long-term growth for shareholders.”

Joe Lister, Chief Executive, Unite Students …

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