This launch follows the major success experienced by the property firm in the student accommodation market over the past 12-18 months. The selling out of entire developments such as Nelson Square in Bolton and Alexandra House in Sheffield, has allowed the company to enjoy an exclusive status with partner developers like Forshaw Land, who have again appointed Knight Knox International as the master sales and marketing agent for this exciting project.
“Working with experienced developers like Forshaw Land allows us to deliver high quality student projects in regions with a need for purpose-built student accommodation. Plymouth is a city currently experiencing a severe shortage of student beds, which has led us to source Greenbank Court as a solution to this problem” comments Martin Copeland, Sales Director at Knight Knox International.
Plymouth is a student hotspot within the south
Home to over 30,000 students, Plymouth is a student hotspot within the south, experiencing a chronic undersupply of beds for its burgeoning student populace, as identified by research specialists Savills, who reported that student housing in Plymouth currently only supplies 3,805 students, while demand is as high as 23,562. This news will mean that investors can be assured of high occupancy rates in the development and with Plymouth rising two places in the Guardian’s University Guide 2013, investors can look forward to strong returns on their investment.
The UK student accommodation market accounted for more than £2.7bn of investment in 2012, outperforming all other sectors of the property industry and generating higher-than-average yields for investors. As property expert Knight Frank predicts that over £500m will be generated by 2016 through the disposable of university-owned halls of residence to the private sector, the market is set to continue and residences like Greenbank Court are sure to capture the interest of anyone looking to increase their buy-to-let portfolio.
Comprised of 57 luxury studios and a further seven en-suite rooms, this complete transformation of a derelict Grade II listed former Victorian prison will house over 60 students.
Greenbank Court has also been designed to include a fully-equipped gymnasium and common room in the ancillary block, to encourage a sense of community amongst residents. Students will also benefit from on-site management which will come from experienced lettings agency PRIMO Property Management. Units will be available at a starting price of £54,950.
For further information on Greenbank Court or the full range of student accommodation developments available through Knight Knox International, please contact +44 (0)161 772 1370.