First Purpose Built Student Housing Launches in Brighton, UK
- Aug 23, 2012
With the student housing market on an upswing across the South of England, due to both international and domestic students, as well investors, Property Frontiers Ltd. has announced the launch of the first purpose built student housing investment in Brighton, United Kingdom.
Dubbed The Regency in Brighton, the development will offer the best of conditions to future residents. The Regency features 39 self-contained luxury studio apartments that feature floor plans larger than the average purpose built student room. Units will be delivered with high-end finishes and fully furnished, including outfitted kitchens and bathrooms. There will be a limited number of twin studios.
According to a press release, the Brighton & Hove City Council “wants to take a positive and proactive approach to new student accommodation to ensure that they are located in the most suitable places in terms of accessibility and impacts on the amenity of surrounding areas.” And The Regency perfectly reflects local authority commitment towards providing and supporting advantageous student housing. Property Frontiers development is only minutes away from: the city center, two of the largest University campuses, amenities and shops in Brighton, as well a 25-minute walk from the scenic Brighton Pier.
Standard studio units start at $111,300, while twin studios have an asking price upwards of $180,300. The units will also be available for lease for 44 weeks during the regular school year and six weeks in the summer for students in summer language schools.
The Regency is expected to complete during the summer of 2013. Property Frontiers, with three years of experience in the field of purpose built student accommodation, has partnered up for The Regency with CRM Students, the UK’s leading independent student accommodation manager and a student accommodation developer with more than 15 years of experience.
Brighton has been recently identified as a “new opportunity market, according a press release.
“Located just 52 minutes direct by train from central London and 24 miles south of Gatwick international airport, Brighton is a stable and high value property market in its own right,” said Chief Executive of Property Frontiers Ray Withers. “With a total population of some 247,000, the student community comprises a significant 10 percent.”
It is estimated that only 5,576 student bed spaces exist, resulting in the majority of students having to opt for lodging with family or look for housing in the undersupplied private renting sector.