Student housing it seems has been best placed to weather the recessionary storm over the past few years, with demand for bed spaces especially within central London sky high and the market still very much under supplied. The recent Knight Frank report into student housing highlights how the sector remains robust with 6% growth per annum compared to 0.6% for commercial property. Unite, the country's biggest provider of student accommodation in the UK has continued to grow and benefits from simple supply and demand market conditions to find it self well placed.
Here are three of there of schemes I visited last week when site visiting with recent changes.
The first is in Southwark on Great Suffolk Street, not far from Southbank and the Tate Modern. Unite secured a £66m loan from Barclays to buy and develop this site only last month which will provide 671 student beds. The whole site has recently been fully demolished with the site being cleared and now excavated. Expect this one to get underway very soon.
One that has started though is North Star House, a refurbishment of an office building on Holloway Road. This will provide 149 student beds and be perfect for students of London Metropolitan University.
And lastly another site on Holloway Road, this time more or less opposite the university campus and less than half a mile down the road at 301-315 Holloway Road. This one has recently completed and provides 160 student beds.