The Student Property team of global property consultancy Knight Frank, acting on behalf of MCR Property, has brought Unity Square purpose-built student accommodation (PBSA) scheme in Liverpool to the market.
Unity Square comprises 240 student bedrooms – a mix of 204 en-suite clusters and 36 studio rooms. Knight Frank is guiding £15.25m for the PBSA asset.
“Since completing the development in 2019 we are very pleased with the performance of Unity Square. We have managed to keep occupancy high despite the effects of Covid-19, which is testament the quality of the accommodation, the team and the Liverpool market. With new development constrained by rising costs this is a great opportunity to acquire a very new, stable, income producing asset.”Nick Lake, Fund Manager, MCR Property
Unity Square is in a prime, city centre location – and is within a 15-minute walk of all of Liverpool’s higher education institutions – the University of Liverpool, Liverpool John Moores University and Liverpool Hope University.
The Unity Square scheme is fully operational, and has achieved 100% occupancy during every academic year since it opened in 2019.
“This is a unique opportunity for investors to acquire a modern PBSA building in a sought-after Russell Group market. Unity Square is an ultra-affordable product that is challenging to replicate in new developments. The scheme is perfectly located for students studying at all of Liverpool’s major higher education institutions, meaning occupancy has remained at an impressive 100% since it launched in 2019.”Rupert Strutt, an Associate in the Student Property team at Knight Frank
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.