The demand for high quality, private student accommodation is showing no signs of abating. UK university places are still heavily oversubscribed with only 10 places available for every 14 applicants, placing university-owned accommodation under an increasing amount of strain, as they struggle to provide the standard of accommodation required in today’s market place.
Specialist companies like Knight Knox International have recognised this need and are bringing to market boutique developments in regional cities, which are producing higher-than-average yields and offering investors assured rentals of up to 10%.
Glasgow is one such city that has been identified of late as having a chronic undersupply of student housing. Property experts Knight Frank have reported that there are nine full-time undergraduates for every one bed space, one of the highest shortfalls recorded in a regional city. With over 65,000 students annually calling Glasgow home, this new project is sure to attract attention from both students and investors alike.
Comprising 122 self-contained rooms and an impressive range of communal facilities, students can choose between three different studio sizes, to suit their individual level of budget. Built over four floors, St. Andrews’s Court has disabled access on every level and all communal facilities are located on the ground floor, to ensure they can be enjoyed by all students living at the residence.
Within walking distance of Glasgow universities and all local facilities and amenities including shops, bars and restaurants, students are in the perfect location for all the city has to offer.
Prices for studio units start at £48,000 and investors are assured NET rental yields of 9.2% for the first three years. Reassured that the property will be managed and let by companies experienced in student accommodation projects, it is expected that interest from investors will be high and interested buyers are advised to register their interest quickly, in order to secure the best units.
For further information on St. Andrew’s Court, or the full range of student accommodation developments available through Knight Knox International, please contact +44 (0)161 772 1370.