The Student Hotel to invest €65M in Turin regeneration project
The European hotel operator, developer and investor expects to have invested around €1 bn in Italy by 2025 …
International student accommodation group adds 235 beds to its Dublin portfolio
Chicago-headquartered investment firm Harrison Street, along with Global Student Accommodation Group (GSA), is developing a 235 bed student accommodation property in Dublin 8.
The project also includes 37 build-to-rent (BTR) units, which will be managed by GSA.
The property, known as Sweeney’s Corner, is scheduled for completion prior to the start of the 2021 academic year, and is located in the Liberties area …
Realstar buys Ilford BTR scheme for £100m
Canadian investor Realstar has bought Pioneer Point, the 294-unit build to rent scheme in Ilford, for $130m (£100m) from Kennedy Wilson, the Beverly Hills-based real estate company …
Student accommodation set for record 2020 after bumper 2019
Last year saw the second highest level of student accommodation investment on record, with transactions reaching a total of £5.2bn.
According to new research from JLL it was the most activity the sector has seen since the record volume of 2015, when £5.7bn was invested in PBSA.
The agency predicted that with the high-profile sale of iQ Student on the horizon and confidence returning to the real estate sector after Brexit and the general election, student accommodation will smash records with up to £7.5bn of transactions this year …
Grainger lines up £305m PRS spree
Build-to-rent behemoth Grainger has launched a share placement to fuel a £305m acquisitions spree. The fundraise will push its secured pipeline over £1bn, with secured schemes worth £978m and £91m in planning and legals. Grainger will place up to 61.2 million new ordinary shares, representing around 10% of the company’s issued share capital. It is seeking to raise £185m, leveraged with around £120m of debt, to secure new projects and fund its secured pipeline in Birmingham; Canning Town, London; Cardiff and Nottingham. The BTR developer will commit £59m to new schemes which are in planning and legals.
Moda Living reaches £850m of live schemes on site
Moda Living, a leading developer, operator and owner of private, build-to-rent housing, has appointed Robertson as the main contractor on the first phase of their Springside scheme in central Edinburgh, with construction work due to start in Feb 2020.
This is the first of Moda Living’s sites in Scotland, and fifth in the UK. Once completed, Springside will offer 476 homes designed exclusively for rent, next generation resident amenities and 25,000sqft of retail & leisure space. The neighbourhood, purchased off market from Grosvenor Great Britain and Ireland, sits at the heart of the historic Fountainbridge district in Scotland’s capital …
Planning inspector overturns Exeter council’s decision on student flats plan
A planning inspector has allowed plans for a new £17m student flats complex in Exeter city centre.
Exeter City Council’s planning committee in September 2019 had turned down a scheme for Walnut Gardens off St David’s Hill and Hele Road, which would have seen the former BBC studio as well as Beech Hill House demolished.
A five storey block of student flats with a 166 bedspaces created, consisting of 138 student bedrooms within cluster flats, 19 self-contained studio flats and nine accessible studios, were included in the plans, as were a gym and a cinema …
Sheffield and Leeds are hotspots for build-to-rent developers planning cradle-to-grave homes
The number of build-to-rent apartment schemes is burgeoning and the boom looks set to continue as developers and big-name investors look set to expand the concept to the suburbs where they will construct family-size properties and flats for the over 55s.
Recent figures from the British Property Federation show that the number of purpose-built, amenity-rich rental developments has soared by 50 per cent in the regions, with Leeds and Sheffield emerging as key hotspots.
Andy Pointon, partner and investment specialist at Allsop Leeds, says: “The Yorkshire region is a hotspot for developers as the demographics of the major cities support a strong rental demand.”Allsop research shows that Leeds has approximately 5,600 build-to-rent homes either completed, in construction or in planning. Sheffield has 2,700 and York 650 …
JLL – Co Living, Co-living, coliving
Living Capital Markets Director, Richard Lustigman discusses the ambiguity of this growing market
“What’s in a name?” Those memorable words crafted by William Shakespeare some 400 years ago came to mind when we here at JLL got together to produce our guidance note on the sector. When it comes to defining coliving, irrespective of how it is spelt, the term does surprisingly little to help us distinguish what it actually is. But could that ambiguity be its greatest strength?
Perhaps coliving’s equivocal nature in both name and physical form is just part of the broader trajectory of Living trends – that increasing interconnectedness of housing sectors and integration of mixed-use spaces in our urban centres …
BlackRock and O’Flynn sell Point Campus for €172m
The largest off-campus student accommodation complex in Ireland, Point Campus in Dublin 1, has been sold to global asset manager DWS Group for a sum understood to be around €172 million, which is expected to provide it with an initial yield of around 4.75 per cent.
Comprising some 966 bedspaces, the complex features amenities including a gym, cinema, common room and roof terrace. The price paid equates to an average of just over €178,000 per bedspace.
Reported rates for rooms start from € 230 per week and range up to € 330 per week for a self-contained studio, with a range of room types and lease terms on offer. Host, Cork developer Michael O’Flynn’s student accommodation management company, operates the complex …