UK student assets to hit £72bn next year as sector gains momentum
Overseas investors are expected to continue to play a key role in the UK student accommodation market …
ROUND HILL CAPITAL PURCHASE 250-BED ASSET FOR STUDENTS IN VALENCIA
Round Hill Capital, a leading global specialist real estate investor, developer and manager has today announced its latest acquisition, a new 250-bed asset in Valencia, Spain, as it continues its rapid expansion of investing in new student accommodation across the primary and secondary Iberian cities.
Designed by TCH Arquitectura and Morph Estudio, the asset will be delivered by Atitlan and Area Desarrollo, comprising 250 modern student-focused hotel-style apartments in a city with a severe shortage of quality student accommodation. It is located 200 metres away from the main city campus of Polytechnic University and Universidad de Valencia and is well-served by public transport with a nearby tram station connecting it to the two universities. The city centre is within cycling distance and 12 minutes by public transport, with Malvarrosa beach located nearby. Construction works are expected to start in 2022.
The announcement marks another major milestone for Round Hill Capital as it continues to build considerable momentum in the sector, with 40 PBSA acquisitions across Europe since 2002, including over 1,150 student beds in Iberia. The deal comes after Round Hill Capital recently announced a record €1 billion+ joint venture with Canada Pension Plan Investment Board (CPP Investments). The partnership is one of the largest Pan-European student accommodation mandates in history …
abrdn snaps up Cardiff student digs for £36m
A joint venture between McLaren Property and PMG Group has sold a 355-bed student scheme in Cardiff to the Aberdeen Standard Pan European Residential Property Fund (ASPER) for £36m …
ASK4 joins forces with Spike Global to bring residents closer together
ASK4 has formed a strategic partnership with Spike Global, the leading property management and resident engagement software provider.
The partnership will mean that ASK4 is able to provide its clients with market leading property management and resident engagement technology solutions.
Spike has a proven track-record for delivering real, tangible results launching and operating property software worldwide. Spike’s resident engagement portals, Spike Living and Spike Student, can be white-labelled and completely tailored to the needs of each development, enabling building operators to create and manage thriving communities, where residents can form meaningful connections. Spike portals also allow residents to stay engaged with up-to-date news and events, book amenities, report maintenance issues, and even get involved with the wider local community by introducing them to local attractions and services …
Global Student Accommodation acquires second US student housing portfolio
GSA continues US expansion, delivering on long-term growth strategy in the world’s largest student housing market
- Latest US portfolio acquired from Harrison Street comprises over 8,100 beds across 10 states and 12 cities.
- Acquisition doubles GSA’s footprint in the US market.
- Properties have strong fundamentals with over 93% occupancy and close to many Power-5 Universities .
- Operating partner Yugo, the first global operator of its kind offering unique student experiences will provide management and oversight of the portfolio …
ROUND HILL CAPITAL ESTABLISHES RECORD €1BN+ EUROPEAN STUDENT ACCOMMODATION JOINT VENTURE WITH CPP INVESTMENTS
Round Hill Capital, a leading global specialist real estate investor, developer and manager, has today announced a new joint venture (“the JV”) with Canada Pension Plan Investment Board (“CPP Investments”), which is responsible for investing assets in the best interest of more than 20 million CPP contributors and beneficiaries in Canada.
The JV, targeting assets in excess of €1 billion, will be one of the largest European student accommodation partnerships. It will invest in standing assets and developments across PBSA markets in Continental Europe, with capacity to invest in the major education markets across the continent. CPP Investments’ initial allocation of equity will be €475 million.
The announcement marks another major milestone for Round Hill Capital as it continues to build considerable momentum in the sector, with 40 PBSA acquisitions across the UK and Europe since 2002, including recent acquisitions in Spain, Germany and the Netherlands worth over €150 million. Assets will be operated primarily by Nido Student, Round Hill Capital’s award-winning specialist PBSA brand …
UK PBSA operators warned of reliance on international students
The UK PBSA sector has been warned not to be over reliant on international students taking rooms following a drop in visas issued to Chinese students and fewer EU students …
Unite Students – Trading Update and Q3 Fund Valuations
Unite Students, the UK’s leading owner, manager and developer of student accommodation, today announces an update on current trading. We also provide quarterly property valuations for the Unite UK Student Accommodation Fund (‘USAF’) and the London Student Accommodation Joint Venture (‘LSAV’) as at 30 September 2021.
Richard Smith, Chief Executive of Unite Students, commented:
“We have seen record demand for UK universities from UK school leavers and non-EU students, particularly for the strongest universities to which we are strategically aligned, although higher grade attainment and restrictions around international travel as a result of the pandemic have impacted occupancy in a small number of cities. There remains a strong outlook for student demand driven by demographic growth, rising participation rates and increasing demand from non-EU markets. This underpins our confidence in a rapid recovery in earnings and total returns, driven by sustainable rental growth, our substantial development pipeline and further opportunities to deploy capital.” …
SPH reports S$92.9m net profit for FY21
SINGAPORE Press Holdings (SPH) has swung into the black, with a net profit of S$92.9 million for the financial year ended Aug 31, 2021 (FY21), amid a slight increase in total revenue from continuing operations, and fair value gains on investment properties.
It reverses the net loss of S$83.7 million in the previous financial year, which had included S$232 million in fair value losses on investment properties.
A final dividend of three Singapore cents per share was proposed. If approved, SPH would pay a total dividend of six cents per share in FY21, up from 2.5 cent in FY20 …
International students are worth £28.8bn to the UK
A new report shows the benefits of international students – with one year’s intake worth £28.8bn to the UK economy. The report – named ‘The costs and benefits of international higher education students to the UK economy’ – has been published by Universities UK International (UUKi) and the Higher Education Policy Institute (HEPI) – and includes research from London Economics. The analysis reveals that the benefits of hosting international students significantly outweighs the costs of international students, including their use of public services – which are put at £2.9bn …