Knight Frank and Lewis & Partners are seeking offers in excess of £13m for the freehold asset Livin Cardiff, reflecting a net initial yield of 5.98%.
Livin Cardiff is conveniently situated close to the University of Cardiff’s Queen’s Building, and comprises 136 student bedrooms; 134 studios and two, two-bedroom apartments.
A wide range of onsite amenities include a gym, games rooms and private dining area.
“The opportunity we are presenting to investors is a unique chance to acquire a centrally located, competitively priced and well-specified student scheme that, crucially, is below development viability. Livin Cardiff has an extremely strong occupancy track record, with rents up c.11% on 2021/22 and as such we believe this makes the asset incredibly attractive to potential investors seeking instant income.”Rupert Strutt, Partner in the Student Property team, Knight Frank
Operational since the 2017/18 academic year, the future for Livin Cardiff looks promising, as an increasing number of domestic and international students are choosing to study at the University of Cardiff.
Knight Frank and Lewis & Partners expect the supply and demand dynamic for the PBSA to be further exacerbated. Cardiff’s student market has grown c.4% on the previous academic year and c.14% over the past five years.