European Student Accommodation Developments
With a completed property portfolio of purpose-built student accommodation (PBSA) assets across Europe comprising over 3,100 beds and valued at over €250 million, Crosslane has an established and proven track record for identifying, developing and managing sustainable student accommodation solutions of the future, which provide long term investment returns.
Crosslane has proven experience in all parts of the end-to-end process:-
• Identifying the most attractive site locations through thorough research & analysis to pinpoint optimum site selection
• Designing properties of a size that drive strong yields whilst meeting student needs, both now and in the future
• Achieving planning permission
• Acquiring land
• Obtaining development debt
• Building strong relationships with contractor partners to develop assets
• Obtaining investment debt
• Achieving bookings for new buildings prior to completion
• Operational lettings & management of properties
• Inclusion of rent guarantee to safeguard income for fund
• Ongoing asset management
Crosslane has received offers for, or has sold PBSA developments to the Victus European Accommodation Fund and other market participants (such as Unite & Knightsbridge) providing evidence that the product is modern, of quality and attractive due to chosen locations, design and 130-450 bed scheme size whichachieve operational efficiencies.
Despite a highly competitive market, Crosslane has identified, secured & delivered new development opportunities reflecting the quality of the skills across the in-house team.
Our current development pipeline is >€415 million, an increase of 65% in 2 years, with future asset development in years 3 to 5 of a further €1.5 billion. Our internal team of experts based in offices across Europe have been developing student accommodation for over 120 years between them and have successfully delivered >€5 billion of student accommodation assets in that time.
“Crosslane’s knowledge of the property market and how to navigate new opportunities stands out in the sector. Crosslane was one of the first to see the potential in European student accommodation”.
As well as identifying investment opportunities and developing high quality purpose built student housing assets, Crosslane has established Prime Student Living as a highly successful standalone European lettings & management business, which it uses to operate the portfolio of assets it develops. Crosslane uses its knowledge and experience of the student sector combined with constant research, market assessment, evaluation and delivers high levels of customer service to achieve high occupancy and high levels of customer satisfaction within Prime Student Living to remain ahead of the competition. In doing so Crosslane generates a holistic, integrated, end-to-end, long term approach of creating a sustainable investment with maximum returns.
Crosslane skillfully design, engineer and create attractive assets in architectural appearance and style that are empathetic to local architecture and surroundings, carefully crafted to a high quality to ensure buildings retain longevity, with high interior specification for comfort and durability.
Crosslane student accommodation is differentiated from competitors in the marketplace, creating a desirable environment for student living of the future, not just the present. Our accommodation boasts the fastest broadband speeds available, with high tech appliances such as flat screen SMART TVs, dishwashers, washing machines and tumble dryers in every apartment, along with onsite gyms, study rooms and manned reception and concierge.
As we manage the buildings we develop ourselves via our Prime Student Living business we are not just developers looking to make a quick profit with no regard to what happens to the asset post sale.
Our approach is to take a long term view, providing sustainable investment, ensuring the building is well preserved, maintained and secured, managing rental income and looking after residents achieving high levels of customer satisfaction, being highly responsive and working with them to continue to provide improvements to their overall experience, whilst maximising yield income for investors
We choose to build long term, strong working relationships with those organisations we operate and do business with, based on trust and understanding, finding solutions which meet the needs of all those involved and our reputation in this area precedes us.
We aim to create assets worth €1.5 billion across Europe over the next 5 years