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  • Student Accommodation

    Best route to market?

    Hello PT people!

    Doing some research on behalf of a client, and would really appreciate comments from those with experience of the student accommodation sector....

    Best route to market when it comes to exiting this type of investment?

    Any routes or agents/companies to avoid, and why?

    Many thanks!

    Helen

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    Hi ; we ave a student flat in Glasgow in my wife's name . it cost £60,000 and the income is good .

    It works out at about £4,800 per annum . Cliffhanger each summer to see if a student is signed up .

    A company called Watkins Jones is building new purpose blocks everywhere.

    The rent for our studio flat is £135 per week but this includes heating hot water

    high speed internet cleaning of common areas and also a concierge to help students

    particularly those from abroad . There is little capital gain though . There is no council tax as occupied by a student .

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    Hello Winsome,

    Thank you very much for your reply.  Yes, we've got all the stats and data re all of our clients student units, but specifically interested in anyone's experience of selling their student units - any agents they'd recommend, or recommend avoiding ;-)

    Best,

    Helen

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    Hi Helen,

    It would help if we knew where the property is.

    In addition, the time of year you sell can be a big factor.

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    Thanks Dom!

    As the majority of selling agents seem to be online, and traditional high street agents don't appear to be interested in this market, the location may not be an issue.  Having said that, I understand why you're asking - the units are across the UK, eg. Leeds, Liverpool, Nottingham, Glasgow etc.

    Yes, agree that time of year can be a factor.  We've overseen the sale of 40+ units over the last four years, but as the market is constantly changing, i'm interested to know of any really stand out selling agents.  Agents who specialise in student units.

    What I'm asking here is for anyone's experiences with exiting their student accommodation investments - who did they use, and would they recommend them or not?  Simple as that :-) With so many student units having been built and sold in recent years, and more still coming onto the market, it would be good to hear of others' experiences.

    Best,

    Helen

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    Are you selling houses or PBSA pods?

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    Dom, it's Purpose Built Student Accommodation, in the form of units/pods.

    Best,

    Helen



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    Hi Helen,

    That explains it! Pods are not something I'm involved in, but from what I'm seeing there's quite possibly an oversupply being built in most uni towns and cities.

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    Hi Dom!

    Yes, I didn't imagine it was your type of investment!

    I predict huge problems in the near future with student pods - over-supply, sub-standard builds, very poor buildings and lettings management...some investors like these because they're a relatively small investment and promised to be very hands-free.  Investors really need to consider their exit routes BEFORE buying, and do more due diligence!!!

    Really appreciate your input.  No recommendations, as yet, for any of the specialised agents I've found though!

    Helen

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    Why someone down-voted you for asking a question who knows?!

    Anyway, you have the choice to sell it tenanted or not. I've seen student properties pop up on Rightmove with local agents. It depends on if the yield is good enough, right time of the year to sell etc. etc.

    Selling with vacant possession is usually the preferred route, unless it's purpose built student accommodation of course when tenanted is a bonus!

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    Hi Adam!

    Yes, that's a puzzler!  Perfectly reasonable question, I thought!

    Agree with your comments, but specifically interested in anyone's experience of selling agents.  There are a number of agents who only sell students' units, but our research has led us to the decision to avoid some of these.  Good recommendations are always welcome!

    Best,

    Helen


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