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Key Highlights:
1. Aviva Investors has invested £150m into purpose-built student accommodation (PBSA) to expand its portfolio.
2. The acquisition includes 6 PBSA assets across 4 UK cities – Edinburgh, Liverpool, Exeter, and Falmouth – providing over 1,000 student beds.
3. The deal includes a complimentary 65,000 sq ft mixed-use commercial asset in Liverpool with leisure, retail, and hospitality spaces.
4. The PBSA portfolio aligns with Aviva’s sustainability goals – 2 schemes already have on-site solar panels installed.
5. Aviva’s operating partner will be Curlew Capital, who will handle lettings, maintenance, and site management alongside Fresh property managers.
News in Details:
Aviva Investors has scooped up a £150 million student accommodation portfolio in the UK, bolstering its exposure to this sector.
This worldwide asset manager has snapped up a collection of student living properties and a mixed commercial investment valued at £150 million. This move thrusts Aviva deeper into the direct let student accommodation sector.
The six-property portfolio is scattered across four UK cities – Edinburgh, Liverpool, Exeter, and Falmouth, collectively offering more than 1,000 student beds.
It showcases a 327-bed student residence in Edinburgh, a 250-bed one in Liverpool, a 228-bed one in Exeter, a 112-bed one in Falmouth, a 132-bed one in Falmouth, and a 112-bed one in Liverpool.
In addition, Aviva now owns a sizable 65,000-foot mixed-use commercial property in Liverpool, encompassing retail, dining, hotel, and groceries.
A couple of the student living properties also come with built-in solar panels, syncing with Aviva’s green initiative to tap into renewable energy sources.
Aviva’s partner, Curlew Capital, will be responsible for rentals, upkeep, and site management, collaborating with property managers Fresh.
This significant deal illustrates Aviva’s expertise in injecting substantial capital into the student living sector in collaboration with a seasoned partner. Predictions show a rise in student numbers with a continued gap in dedicated accommodation.
Overview:
Aviva Investors secured six PBSA properties across four UK cities in a deal worth £150 million. This package provides more than 1,000 student accommodations and a 65,000 sq ft commercial space in Liverpool. This move boosts Aviva’s footprint in the PBSA field. It matches their sustainability targets and demonstrates their skill to invest considerable capital in a burgeoning and undersupplied PBSA market, teeming with increasing numbers of students.
