As the university year begins to draw to its conclusion, many student accommodation landlords have begun to set their sights at the upcoming academic year in September and are thinking about growing their portfolio.
Rental yields and capital gains over the past year have been excellent and some of the best seen by current landlords. The ever-increasing student numbers could go some way to explaining why this has been the case. Attending university in the UK remains incredibly popular with Britain boasting some of the best universities and student lifestyles in the world. This creates increased demand for the best apartments in the most convenient locations.
And the trend is not limited to domestic students; international students are queuing up to take advantage of some of Europe’s best educational institutions and spend time in the UK’s best cities. Manchester, London, Leeds, Liverpool, York, Edinburgh and others have all seen strong application numbers according to UCAS, the organisation which regulates and monitors student applications.
With this in mind, and with many landlords looking to expand but unsure where to do it, we’ve listed some of our investment highlights for the approaching summer season.
Excellent value for money
Starting at just £29,000 and going up to £59,000, Dunn House in Sunderland represents outstanding value for money. Ideally located in the city centre, Dunn House is within walking distance of the university as well as local bars, clubs, shops and general amenities. All rooms are fully furnished in a modern style, and residents also benefit from a high-spec communal area with a pool table. Rooms start from studio and go up to spacious two bedroom apartments.
The key features include on-site management, laundry facilities, communal Sky TV, bike storage, gymnasium and a central location.
Located just a short walk from both of Leeds’s renowned universities, Lovell Park is in one of the most desirable places available for both investors and tenants. A refurbished former youth residence, Lovell Park has been designed to be the epitome of boutique student accommodation.
Lovell Park is built over four floors and contains 66 luxuriously furnished student apartments. It boasts hotel standard facilities and is close to all of the many amenities, bars and shops to be found in Leeds.
The key features of the property include laundry facilities, CCTV, fob access, communal rooms, a communal kitchen, secure cycle storage and a great central location. Prices range from £40,000 to £44,000, representing excellent value.
The up-and-coming area
Bolton has been attracting attention for some time now thanks to the increasing number of students choosing to attend the university and its proximity to Manchester. Excellent transport links and vastly improving housing standards across the region have also contributed to the growing popularity of Bolton.
Nelson Square, built from the famous Pack Horse Hotel in Bolton, was transformed into luxury student accommodation. Ten minutes away from the university and in the heart of the town with the ‘Bolton One’, the £31m health, leisure and research centre, less than half a mile away, the accommodation is perfectly placed for modern students.
Prices start from just £39,000 and key features include CCTV security, secure fob entry as well as the large communal area, the hotel’s old ballroom, which acts as the social hub of the property with pinball machines, pool tables and a projector for movies. The rooms also boast free WiFi and wall mounted televisions. Also worth noting are the laundry room, gym, and reading room, which give residents lots of space and different areas to help keep their university lives stress-free.
There is plenty of value in the market for investors, and with UCAS expecting a potentially bumper year for applications now could be the time to set the wheels in motion.