Vertically integrated real estate investment management company – CA Ventures – announces its in-house purpose-built student accommodation (PBSA) management company, Novel Student, has been selected by leading investment management and development firms to manage five properties across Sheffield, Glasgow, Edinburgh, Canterbury and Birmingham. Together, the five premium PBSA communities account for 1,823 beds across the UK, expanding Novel Student’s operations to over 2,800 beds across nine European properties.
“It has been incredibly rewarding to share in the success of Novel Student. In the 24 months since its launch, Novel Student has recorded significant accomplishments, having delivered its initial portfolio despite a global pandemic and volatile macroeconomic environment, and the subsequent lease-up and sale of each asset.
“Novel Student’s rapid success indicates the value and demand behind the innovative, premium operating platform – both from a tenant perspective and an investment perspective. We look forward to the future success of Novel Student as we continue to expand its operations across Europe.”Matt Walker, Executive Vice President of Operations, CA Ventures’ European Division
The Novel Student’s managed assets include:
- Hillside House, Sheffield, England
- Bridle Works, Glasgow, Scotland
- Silk Mill, Edinburgh, Scotland
- Riverside, Canterbury, England
- Altura, Birmingham, England
All Novel Student properties offer residents shared amenity spaces, ranging from gyms and study rooms to terraces and relaxation areas. A key focus is to ensure the properties are staffed with an on-site team to provide residents with quick and easy access to support. Each Novel Student community hosts regular social gatherings and other activities for the mental wellbeing of the students.
CA Ventures’ European team plans to deliver 1,000 beds across Leicester, Edinburgh and Belfast to serve students during the 2022/2023 academic year, all of which will be managed by Novel Student. CA Ventures has also announced joint ventures to expand its PBSA portfolio and the Novel Student platform to Ireland, Spain and Italy.