Year: 2011

James Caan, the UK-based entrepreneur, is hoping to attract interest from Gulf investors in a Sharia-compliant fund that buys up property assets in the UK.

The former star of the BBC’s ‘Dragon’s Den’ TV series is touring the Gulf in a bid to drum up investment interest in a £45m ($69m) student housing product, offered through the independent firm 90 North, in which Caan holds a stake.

“When you think today that half the world’s population today is Muslim, as a businessman I see this as one of the biggest growth market opportunities that is under-exploited,” Caan told Arabian Business at a Dubai event on Thursday.
“Potentially over the next five or ten years I can see this as being a very attractive position. I think there is an incredible increase in demand for Sharia-compliant opportunities and products.” …

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A development of 80 student rooms and 82 flats spread across two buildings – one of which could reach eight storeys – in Newmarket Road where the former Atrium health club was would back on to East Road opposite Cambridge Crown Court.

In a pre-application briefing to city councillors, developers The Unex Group said the 80 student rooms which would be in a separate building from the main block of flats would be put forward in place of any affordable housing.

Stephen Walsh, of Unex, said: “We would hope we could say can we provide the student accommodation in lieu of affordable housing. We are hopeful that we may still be able to provide viability and makes the scheme viable.” …

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The University of York is looking for a contractor or consortium to build and operate a large halls of residence at its new 160-acre campus.

Two new student accommodation buildings, each worth around £50m, will be built on the Heslington East site in York.

It is envisaged that the contract for the first building will be based on the operator purchasing a lease of up to 60 years on a site within the Heslington East development to build and operate around 650 student bed spaces …

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A controversial development that will bring hundreds of extra students into Englefield Green has been given the go-ahead.

The proposal, submitted by Orchid Runnymede Ltd and for 528 student bedsits, 59 units of extra care accommodation and 104 homes including affordable housing at the former Brunel University campus in Coopers Hill Lane, was unanimously approved by Runnymede Borough Council’s planning committee on Wednesday, November 16 …

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Braemar Group has written to shareholders requesting a further 12 months’ suspension of redemptions to its £14.3m Student Accommodation fund. The asset manager – owned by Brooks Macdonald – has requested another year after securing debt facilities with Barclays.

Without the approval of investors, Barclays could force a sale of the student accomodations held by the fund.

The fund had previously written to investors stating that it had received advice from strategic advisers Knight Frank to offer all the assets for sale to determine the best price …

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Householders who last week lost a battle against the construction of 55 new student flats in their street now fear 100 more will be built just down the road.

People in Mill Street, West Oxford, have spent years opposing plans to build student accommodation in the quiet residential road.

But councillors last week backed developer WE Black’s plans for 55 new study rooms in an old railway sidings off Osney Lane. The two- storey building is intended to house GCSE, A-Level and foundation course students at Bellerby’s College, in nearby Trajan House …

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Banks have cooled lending on student accommodation, because of fears that the increasing student tuition fees could have a hampering effect on the sector. We expect some cities, especially those with an over-concentration of student housing, and some universities to be hit by next year’s rise in tuition fees,” said Stewart Ward, head of the education sector at RBS Corporate and Institutional Banking in an interview with Reuters.

This drop in bank lending is not yet affecting the supply/demand dynamic in a noticeable number of places. Sure, this is partly because the lending tap only began tightening 6 months ago, but it is also because developers are finding themselves able to access financing for student-accommodation developments and conversions through other channels …

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A new bid to build student flats on St Clements car park is being launched with a competition to redesign the controversial East Oxford site.

Architects are being asked to come up with fresh plans after a scheme for 141 student bedrooms in three blocks was narrowly rejected in September, with traders warning loss of parking spaces would damage business.

Now residents and traders are unhappy with Oxford City Council’s involvement in the new search for an alternative scheme …

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University College London (UCL) has unveiled its masterplan for a proposed £500 million investment scheme for its central London Campus and has said that the creation of an additional campus elsewhere in London is a possibility …

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Derwent London Plc (DLN), a developer of mid-priced office buildings in central London, said it’s likely to sell the student housing portion of a planned development near the city’s main financial district.

The site on London’s Commercial Road may become vacant next year and local officials have approved plans for 417 rooms of student accommodation together with 26,500 square feet (2,450 square meters) of offices in a 19-story building …

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