Developing Student Accommodation in the UK
In the UK Crosslane purpose-built student accommodation (PBSA) developments are predominantly focussed on Russell Group university cities, outside London, where returns are most favourable. Cities are prioritised where demand-supply imbalance is greatest and where there is more than one higher educational institution, with site locations being close to university campus as well as city centres, providing convenience and attractive amenities and lifestyle. Sites are typically 130-450 beds in size to achieve operational efficiencies.
The UK has the highest number of top globally performing Universities in Europe
Over the last 20 years the numbers of students applying to UK Universities has grown from just over 400,000 per year to around 700,000 per year with an increasing number of overseas students attracted by the globally highly regarded & respected English speaking education system.
Total student numbers in the UK are around 2.3 million – the highest in Europe as a proportion of total country population figures.
University owned Halls of Residence and Purpose Built Student Accommodation accounts for less than 40% of all student housing across all major University cities in the UK with some locations less than 25% highlighting the growing demand and lack in supply of somewhere for students to live whilst they study in the UK.
Crosslane seek to capitalize on the opportunity of the supply and demand imbalance and in addition to the property portfolio of student accommodation already developed, have ambitious plans to continue to develop high quality purpose-built student accommodation across the UK, with a target to deliver 10,000 beds in the next 5 years.