The Student Property team of global property consultancy Knight Frank has launched Capital House in Southampton on behalf of joint venture partners Kier Property and Investec Bank.
As reported by Knight Frank in a new study, transactions in the UK’s student market hit record-highs during the end of 2020 with almost £6 billion invested. Knight Frank, the London global property consultancy, is seeking offers in excess of £34 million for the PBSA asset.
What to expect from the PBSA property
Students attending both the University of Southampton and Southampton Solent University are the target demographic. As the scheme is located in the heart of Southampton city centre, students will be able to make use of the local shops, restaurants and bars in the city when they are not studying.
Capital House is 11 storeys high, located over three blocks that contain 423 bedrooms, split into 184 en-suite cluster rooms, 124 townhouse rooms and 115 studio rooms. A private on-site gym, a games room, breakout spaces, a cinema room and a study/project room are also available for students to benefit from.
Rupert Strutt, an associate in the student property team at Knight Frank, said: “Capital House is an outstanding example of purpose-built student accommodation, offering affordable, modern rooms for students enrolled at both the University of Southampton and Southampton Solent University. In line with the majority of the student accommodation in Southampton, Capital House is fully let with a waiting list. This opportunity offers investors the opportunity to acquire a stabilised asset at a very attractive yield.
“We are delighted to launch Capital House to the market on behalf of Kier Property and Investec.”
Managing director at Kier Property also added: “Capital House is another of Kier Property’s stabilised assets within the student accommodation sector that we are delighted to bring to the market. We are proud to have delivered such a highly sought after and market-facing product by all students and parents; offering an array of room types at varying budgets and a communal hub that provides that home-from-home environment within their accommodation.”