First purpose built student housing investment launches in the “new opportunity market” of Brighton
With nearly 3 years’ experience as innovators and pioneers of purpose built student accommodation under their belt and over 100 student rooms already sold in 2012 alone, Property Frontiers are once again leading the field with the launch of The Regency in Brighton.
Capitalising on the growing demand from not only domestic and international students but investors alike for purpose built accommodation in the South of England, The Regency presents a higher grade of student accommodation with large and luxurious self-contained studio apartments available with a deposit of just £35,250.
Identified as a “new opportunity market” by Savills, the coastal city of Brighton presents the perfect imbalance between supply and demand with only 5,576 bed spaces for over 34,000 students, of which 24,460 are full time (Jones Lang LaSalle – Brighton Student Demographics July 2011).
As Ray Withers, Chief Executive of Property Frontiers, explains,
“Located just 52 minutes direct by train from central London and 24 miles south of Gatwick international airport, Brighton is a stable and high value property market in its own right. With a total population of some 247,000, the student community comprise a significant 10% yet their needs for housing have simply not been met – until now!”
Home to two well respected higher education institutions, the University of Brighton with 14,620 students and five campus locations and the University of Sussex, home to 9,840 full time students, Brighton is a popular choice, ranked the third best student investment location recently by Knight Frank.
Approximately 10% of the total student population are from overseas yet both universities only provide accommodation for a small number of their students. Over 77% of all students, some 18,900, have to find alternative accommodation usually by living at home or in the already crowded private rented sector.
Indeed the local council authorities are well aware of the student housing shortage and fully support new development initiatives such as The Regency. As stated in the Brighton & Hove City Plan: Student Housing Policy Options Paper, “[Brighton & Hove] council wants to take a positive and proactive approach to new student accommodation to ensure that they are located in the most suitable places in terms of accessibility and impacts on the amenity of surrounding areas.”
Comprising 39 self-contained luxury studio apartments delivered fully furnished and finished to the highest standard, The Regency will be sure to meet today’s students exacting demands. Larger than the majority of purpose built student rooms, studios at The Regency are located close to the city centre, minutes from two large University campuses, shops and amenities and 25 minutes’ walk to the beach and the iconic Brighton Pier.
Even with The Regency occupying a prime location in the south of England, rooms are competitively priced starting from only £70,500 for a standard studio rising to £114,175 for the limited number of twin studios. Net yields of 8% are assured in the first 2 years and in addition, unlike other student developments, there is a favourable payment plan with interest of 5% pa paid on all deposited funds during construction.
Working in partnership with an expert student accommodation developer with over 15 years’ experience and the UK’s leading independent student accommodation manager, CRM Students, completion is due in summer 2013 and studios at The Regency will be let for 44 weeks during term time and for 6 weeks during the summer to language schools who visit the city.
For more information about investing in the first purpose built student accommodation investment in Brighton, contact Property Frontiers today on +44 (0) 1865 202 700 or visit www.propertyfrontiers.com.