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TODAY'S OTHER NEWS

US firm targets UK’s student lettings sector in major cities

A huge US property investment firm valued at over $10 billion is entering the UK’s purpose build student accommodation sector.

Chicago-based CA Ventures plans to invest £500m in the student sector in the UK and Republic of Ireland within the next two years. It’s already active in the Netherlands, Spain, Portugal and Italy.

Three of the first UK schemes will be:

- Glasgow: the development that will contain 422 beds, is situated next to the University of Strathclyde and within walking distance of Glasgow Caledonian University and the University of Glasgow;

- Edinburgh: 216 beds accessible to both Edinburgh Napier University and the University of Edinburgh; and

- Sheffield: the development will contain 250 beds, is adjacent to Sheffield University and within walking distance of Sheffield Hallam University.

There will also be other schemes in Belfast, Bristol and York delivered in time for the start of the 2021/2022 academic year.

The company says it’s drawn to the UK market because current demand for purpose build student accommodation outweighs supply by a ratio of three to one.

Carlo Matta, Head of European CA Ventures, says: “The UK government’s recent extension to residency rights for international students, post-graduation, is a great signal to the global student community. We see a significant opportunity in the UK, Ireland and continental Europe, to deliver a modern, high quality student living experience. Limited supply, increasing obsolescence of older product and growing university enrolment has created a very favorable supply/demand dynamic.”

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    Agree with the potential and maybe consider mixed communities of students, retired people and migrant workers. Use recycled products to build and heat ?
    Richard Edds. richard@leisureandland.com

    Paul Barrett

    I think you'll find the construction industry already recycles.
    It does this with clay; wood, sand etc etc.
    It then heats the properties with recycled product from decayed plants called gad.

     
  • Paul Barrett

    My understanding is that there is too much student accommodation such that many LL are struggling to fill their student properties resulting in many of them converting their properties back to single family occupation or taking on single professional tenants.

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    • 26 September 2019 00:44 AM

    I’m glad I, (and many others) have earned the right to honestly say........ “Remember when...........” or “Those were the days!”
    Nothing remains the same.

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