Acting on behalf of joint venture partners Kier Property and Investec Bank, the Student Property team of global property consultancy Knight Frank has launched Capital House in Southampton to the market. Knight Frank is seeking offers in excess of £34m for the purpose-built student accommodation (PBSA) asset.
“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.”Rupert Strutt, an Associate in the Student Property team, Knight Frank
Capital House comprises 423 bedrooms – a mix of 184 en-suite cluster rooms, 124 townhouse rooms and 115 studio rooms. The accommodation is arranged over three blocks spanning 11 storeys. Capital House contains a high level of amenity space – including a private on-site gym, a games room, breakout spaces, a cinema room and a study/project room.
The scheme is situated in the heart of Southampton city centre – which is perfectly located for students attending both the University of Southampton and Southampton Solent University.
“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.”Leigh Thomas, Managing Director, Kier Property
According to recent research released by Knight Frank, transactions in the UK’s student market surged at the end of 2020 – with almost £6bn invested.