Greystar buys US student housing firm in $4.6bn deal
An affiliate of Greystar Real Estate Partners has agreed to acquire EdR, one of the largest student housing landlords in the US, for $4.6bn including debt …
Inside the homes that are being built to help fight the UK’s loneliness epidemic
In their first nine months living at Battersea Power Station, Paddy Rowe and her husband Barry say they have made more friends there than in a decade in their last home – a large family house in Putney. “When we decided to downsize, we were initially considering moving to a retirement village,” says Paddy, a former lecturer. “But being surrounded by people of all ages and backgrounds is great.” …
Allianz Real Estate forms £350m JV with Greystar and PSP Investments
Allianz Real Estate has formed a £350m joint venture with Greystar and the Public Sector Pension Investment Board to expand Greystar’s student accommodation brand Chapter …
Why University of London is on the hunt for new sites
In 2011, just over three quarters of student beds in London were under university control, but by 2017 that figure had fallen to 55%.
The fall is largely down to the rapid growth in the development of private student housing. While this has helped increase the overall provision of student accommodation in the capital, much of the new stock comprises studios aimed at wealthy foreign students.
This is a market that has become “saturated”, according to Dr Ghazwa Alwani-Starr, director of property and facilities management at the University of London, which is looking to redress the balance by embarking on a major programme of development …
Student accommodation provider makes move into residential market
Lancaster-based accommodation provider CityBlock is expanding into the residential housing market with the launch of The Urban Project which it says aims to help meet the demand for city homes.
The Urban Project has acquired its first site, located in the Jewellery Quarter area of Birmingham.
CityBlock has appointed Andrew Bargh as urban design manager, who will oversee land acquisitions and scheme delivery. Martin Crews, development director of CityBlock, said: “Expanding into the residential market has been our goal at …
Plans lodged for new student accommodation scheme in Sheffield
A development of almost 300 student flats could be built on a site in Sheffield city centre if newly-submitted plans are given the green light.
Fraser Morgan, supported by David Cox Architects, has submitted an application for the redevelopment of a site on Allen Street.
Under the proposals, the existing warehouse and office properties would be demolished and a new building of between five and seven storeys constructed …
Is Purpose Built Student Accommodation development still viable in London?
In recent years, the topic of affordable rent provision and development viability in London for Purpose Built Student Accommodation (PBSA) has become a contentious topic amongst developers, investors, agents and valuers alike.
PBSA-related conferences in recent years have been riddled with murmurs that the proposed 35% affordable rent provision proposed by the Greater London Authority (GLA) could scupper the viability of developing PBSA in Greater London in the near future.
Not only will new schemes submitted to the planning pipeline be subject to impositions on affordable rent provision, but also the draft London plan suggests that each new development should be operated directly by one specific higher education institution or linked to one of the capitals many prestigious institutions …
HMRC loses appeal against student halls VAT ruling
HM Revenue & Customs’ appeal against a ruling that overturned its student accommodation VAT policy has been rejected.
Glyn Edwards, VAT director at accountancy firm MHA MacIntyre Hudson, said that HMRC’s defeat brought benefits for companies involved in the construction of student housing as well as landlords and universities.
The decision not only provides reassurance to the student housing sector that subcontractors do not have to be paid VAT on new build student accommodation, but has additional implications beyond cash flow for all parties involved …
Rise of commuter student as rents soar in Dublin
Rising rents are forcing an increasing number of students to endure long commutes in order to attend college.
Students are enduring daily round-trips to Dublin from counties as far away as Tipperary and Monaghan because it is cheaper than renting in the city.
There has also been a marked rise in the ‘digs’ arrangement as students from rural Ireland seek to avoid rising Dublin rents …
How Cardiff’s student flat boom is affecting real people
Imagine living in the same residential street in Cardiff for decades.
You understand that by living in Cathays , a central student area, there will be noise, it will be difficult to park and it will be messy.
You have accepted this as part and parcel of living in a vibrant and growing capital city.
This is the case for the residents of Maindy Road in Cardiff . The street is tidy, with trees along both sides and small gardens in front of well kept terraced houses. Despite being a student heartland the area has a good balance of students, young families, professionals and older long term residents …