Global property consultancy Knight Frank is seeking £143.3 mln (€161.5 mln) for a portfolio of seven PBSA assets in the UK on behalf of Maven Capital Partners and IP Investment Management.
Offers for individual properties will also be taken into consideration.
Three of the assets are located in Stirling: Carters Yard, Centro House and Riverside Quay.
The portfolio also includes Murieston Crescent in Edinburgh, Mansion Tyne in Newcastle, Stanley Studios in Portsmouth and St Peter’s Hall in Bournemouth.
The assets provide 1,250 beds in total, of which 48% en-suite and 52% studio rooms, offering best in class, high quality lodging, in addition to amenity space.
All properties feature 100% occupancy for the 2022/23 academic year, except for Stanley Studios, Portsmouth which will be completed in time for the 2023/24 academic year.
Josh Woolley, partner in the student property team at Knight Frank said: ‘We are proud to be marketing this fantastic investment opportunity. It has an attractive geographical spread across the UK in critically undersupplied markets with a very limited development pipeline. The current occupancy and rental growth projections are testament to the quality of these markets and the individual schemes in the portfolio.”’
Selina Williams, executive director at IP Investment Management commented: ‘This is the fourth portfolio of luxury PBSA assets that Maven and IPIM have brought to market having developed, let and stabilised over 3,000 student beds in strong regional university cities across the UK over the past 11 years. We remain committed to developing best in class buildings and creating vibrant student communities as we enter the next phase of our development cycle. With many locations in the UK seeing an acute shortage of accommodation coupled with significant growth in the number of both domestic and overseas students availing themselves of UK higher education the prospects for investors in the sector have arguably never been stronger.’
