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Operational Student Accommodation Opportunity in Devon

Type of investment: Stabilised asset
Forecast return: NIY 6.57%

Operational Student Accommodation Opportunity in Devon

The property is a freehold operational purpose built student accommodation situated in Plymouth. The port city is located in the South West of England and remains the largest city in the County of Devon and Cornwall, after Bristol. Plymouth is famous for its maritime heritage, fresh fish, the historic quarters in the Barbican area, and University of Plymouth – one of the largest in the country. By 2017 the residential population of Plymouth reached just over 260,000, with around 20,000 of which are students enrolled in courses in either University of Plymouth (19,000), or Marjon University (2,000). As the principal business and cultural centre for the County of Devon, Plymouth offers a diverse range of pubs, shops, cafes, parks and picturesque views of the harbor to any prospective students and workers in the region.

Why PBSA?

Over the last 10 years, Purpose Built Student Accommodation or PBSA, which is often considered an alternative real estate asset class, has significantly grown in prominence among private and institutional investors and become an integral part of the largest real estate portfolios in the UK and Europe. Some of the biggest reasons for this are: a strong demand driven by a growing number of local and international students in the UK, and high yields (on average 5-7% across England regions).

Why Plymouth?

Plymouth has a large student community of more than 20,000 students, for instance Cambridge has 25,000. A strong demand and supply constraints have created favourable market conditions with rents and occupancy rents for studios remaining strong and stable making investments in PBSA low-risk and high-yielding.

Key property features:

  • 90 beds
  • 82 studios, 6 one-bed apartments and 1 two-bed apartment
  • 15-minute walk away from the city centre and the main campus of University of Plymouth
  • 5-storey accommodation with dedicated lobby and reception
  • Rooms ranging from 20-35 sqm
  • On-site laundry
  • Student common room and roof terrace
  • Full high speed Wi-Fi throughout

Key financials:

  • Room occupancy for 2018/2019: 100%
  • NIY: 6.57%
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