Of course, the largest selection of student property is concentrated in London. There are 18 special complexes – Purpose Built Student Housing – cottage settlements providing such infrastructure. They are scattered throughout the city, and new construction is concentrated in the 1st and 2nd zones.
Britain is good that the best universities are located not only in the capital – a huge number of educational institutions from around the world is located in other cities. For example, in Manchester and Sheffield the University of Manchester and Sheffield Hallam University are rated 2nd and 3rd most attended institutions after London Open University. Almost every major city in England has a decent university, and the choice of locations is quite diverse. In addition to these locations, as well as the world famous Oxford and Cambridge, this type of facilities is available to investors in Liverpool, Nottingham, Canterbury, Plymouth, Leeds, Liverpool, Bristol, Newcastle, Birmingham and many other cities.
The price aspect
Such a variety of locations provide a wide range of opportunities for domestic and international investors, so while in London the price of such objects can easily go beyond £150,000 mark, in other cities the average cost of student housing is estimated at £50,000 – £60,000. The cheapest offer, found on the market today, starts from £32,000. It was a room of 15 square meters. with a bed, desk, TV, wardrobe, shower, toilet and shared kitchen. The apartment, sold out as for now, is located in a residential complex with a gym and relaxation area. This way or the other, you should add around £1,000 – £3,000 payment for conveyance solicitors and real estate agencies services.
Some experts mention even starting sums as low as £25,000. This is where much depends not only on the city, but also on real estate itself. If this is a tiny studio or room in a long-established and somewhat outdated design, of course, it will be cheaper. Objects of the same area in the new ultra-modern units are quite expensive, although you may want to located in rebuilt buildings, previously used for other purposes, the price may be slightly lower (though not always). Also, the cost depends on the type of accommodation. You can buy a simple student apartment – modernly equipped rooms with a shower and toilet but with a shared kitchen, they will be much cheaper, and you can also make a choice in favour of improved student apartments – more comfortable and spacious, as well as some studio apartments in new buildings, which tend to be more expensive. In addition, the proximity to the educational institution is also crucial – the more remote it is, the cheaper it will be.
Remarkably, the special student complexes are typically managed by large asset management companies, maintaining strict order and enter into contracts with universities, that is, find tenants, and thus completely eliminating this concern for investors. Moreover, the demand from tenants and income from rental is oftentimes guaranteed by developers themselves.