RBS settles £700m Libor battle with student property tycoon
Property magnate Stuart Wall has settled his £700m claim against the Royal Bank of Scotland (RBS) …
Analysis shows Private PBSA value now equals value of University owned beds
Knight Frank’s latest market analysis shows the value of private sector beds is now equal to the value of university-owned beds at £22.9bn.
With 25,000 private sector beds expected to be delivered in 2017, the private sector was likely to account for more than 50% of the total student accommodation market by value at the end of the year, said James Pullan, head of student property at Knight Frank.
“The private sector is now dominating the development of purpose-built student accommodation in the UK, with universities becoming increasingly reliant on the private sector to deliver accommodation for their students,” he said …
iQ Student Accommodation outlined proposals for more Student Beds in Manchester
Plans have been unveiled for a huge residential scheme rising up to 24 storeys high in Manchester city centre.
IQ Student Accommodation has outlined proposals for Echo Street, a development providing co-living accommodation alongside purpose-built student accommodation. The project is located inside the Whitworth Street Conservation Area near Manchester Piccadilly station with the railway line passing the site to the south.
The proposed development will rise from 12 to 24 storeys high and replace the existing buildings onsite. Green roofs, shared rooftop terraces and improvements to the public realm are all planned …
Why student housing is piquing institutional interest – USA
Investors are diversifying their portfolios beyond the familiar urban construction developments that have driven multifamily sale volumes to new heights over the past two years. One perhaps unexpected area of focus has cropped up: student housing.
So just how interested are investors in student housing? Investment volumes in this space in 2016 increased 64.5 percent year-over-over compared to the 4.3 percent increase in the multifamily sector overall. While student housing has seen significant gains, it’s still only a small portion of the multifamily sector. In 2016, student housing accounted for 6.6 percent of total multifamily transaction volumes with a record $9.2 billion in activity.
As investor interest in student housing has increased, institutional capital has played a crucial role. Institutional investors accounted for nearly half of acquisitions in 2016 …
Student homes could transform Liverpool Police Station site
Liverpool’s Copperas Hill Police Station could be demolished to make way for accommodation for 206 students.
Plans to develop a new six or seven-storey complex on the site will be considered by Liverpool City Council’s planning committee next Tuesday (8 August).
Study Inn Limited is the applicant behind the proposals, which would incorporate 111 self-contained studios and 16 cluster apartments each including a communal lounge and kitchen with six bedrooms …
Student accommodation provider Downing Students starts work on second development in Glasgow
Student accommodation provider Downing Students has started work on its second development in Glasgow city centre.
The luxury accommodation, which will feature 310 cluster bedrooms and studio flats, is due to open in September 2018 in time for a new batch of students from Glasgow’s three universities.
Works are being delivered by main contractor George Downing Construction Ltd. The £30m scheme will be located near the developer’s West Village Accommodation Block on Beith Street …
Bid to build 10-storey student block on Nottingham city centre street
A 10-storey tower block could be built along a Nottingham city centre street to provide accommodation for hundreds of students.
Plans have been submitted for the demolition of former school buildings and a former Saab car showroom off Talbot Street to make way for the imposing new block – which would stand two storeys taller than any other existing building including the Talbot House and Talbot Point developments on the street if built.
The building, proposed by developer Redoak, would includes 353 bedrooms set in ‘clusters’ of four to six bedrooms …
Ireland promises 21,000 more student beds by 2024
Ireland’s Ministers for Education and Skills, Higher Education and Housing and Urban Renewal have launched a National Student Accommodation Strategy in a bid to curtail the country’s massive shortfalls in the supply of available bed spaces for university students.
The strategy lays out plans to increase the number of purpose built student accommodation beds in Ireland by 63%, equating to 21,000 beds, in seven years.
In addition to action plans to grow PBSA, the strategy also hopes to increase the number of available digs – rooms leased in private family homes – by 4,000 beds per annum by 2019 …
2,000 bed Falmouth University student village planned at Treluswell site
This is the first image to be revealed of the controversial planned 2,000-bed development aimed at answering housing shortages at Cornwall’s only university.
The £170 million Penvose student village near Penryn, which would be larger than the nearest existing village, has run into a huge number of objections over issues including flooding, sewage and student safety, although alterations are now being made to address them.
An outline application for the site between Treluswell and Treliever roundabouts was expected to go to Cornwall Council’s main planning committee in April but has been postponed until at least September to deal with a number of outstanding issues. If built, it would have more residents than the nearest village, Ponsanooth, with a population of about 1,090 and almost as many as Mabe’s 2,500 …
Student accommodation firm Unite flags potential £3.5m of cladding costs post-Grenfell
Student accommodation provider Unite has said it expects to spend up to £2m replacing cladding on some of its blocks after the Grenfell Tower fire.
Six of the firm’s buildings have been flagged as having cladding that concerned fire officials, although Unite said all have been inspected and have been deemed safe to inhabit.
Richard Smith, Unite’s chief executive, said he took the safety of the company’s residents “extremely seriously” …