This month the PBSA sector has managed to prove its resilience and power once again as more acquisitions and contracts are signed between some of the top PBSA companies in the UK.
Real Estate Capital Holdings has agreed to sell a prime PBSA development opportunity in Leeds for £18.5 million to global living specialist Scape in its joint venture with Dutch pension fund APG.
44 Merrion Street, which has an approximate gross development value (GDV) of over £100 million, has planning permission for 660 student bedrooms split across two towers – standing at more than 30 stories – cutting a spectacular figure on the Leeds skyline.
Scape aspires to transform people’s way of living by providing carefully planned properties that give people everything they need in a smart way.
The new property will consist of a mixture of studios and en-suite cluster apartments with ample communal and amenity spaces such as shared kitchens, a cinema, and a fitness studio. A public area will be built on the ground floor of the property, benefitting both student residents and the general public.
Merrion Street is located centrally in a lively neighbourhood close to the University of Leeds and Leeds Beckett University, which are just a 10-minute walk away.
Student accommodation developer Unite Group has sold eight buildings to Aventicum Real Estate for £133 million. It has sold the blocks with 2,284 student beds in Coventry (two sites), Wolverhampton, Birmingham, Exeter (three sites), and Manchester to Aventicum Real Estate and Host.
Aventicum Real Estate have appointed Host, the student housing specialist, as a property and development manager for its newly purchased portfolio in order to provide high-value accommodation to a broad cross-section of students.
Host mentioned that they will improve the communal spaces, facilities, and rooms to become more appealing to students and enhance the operating performance and investment value of the residences.
This transaction marks Aventicum Real Estate’s first investment in the student accommodation sector in the UK.