Knight Frank brings Brighton PBSA scheme to market

Knight Frank brings a Brighton purpose-built student accommodation (PBSA) scheme in Brighton to market.

5 Circus Street in Brighton, brought to the market by Knight Frank | BTR News
5 Circus Street in Brighton, brought to the market by Knight Frank.

The Student Property and Specialist Investment teams of global property consultancy Knight Frank have jointly brought to market 5 Circus Street – a PBSA scheme in the heart of Brighton.

Acting on behalf of Scape Living, which is backed by the Dutch pension fund APG, Knight Frank is guiding offers in excess of £67m for the long leasehold interest of 5 Circus Street. The scheme is currently let to Kaplan Brighton Ltd until September 2040.

5 Circus Street includes 450 high-quality student rooms – a mix of 81 studios, 366 ensuite rooms and three one-bed flats, alongside 1,130 sq ft of retail space which is currently occupied by White Cloud Coffee Roasters. The scheme is currently 100% let for the 2023/24 academic year.

The 2.4-acre Circus Street site in central Brighton is a 2-minute walk from the University of Brighton’s city centre campus and is a 25-minute bus ride from the University of Sussex.

“Brighton has one of the highest student ratios of all university towns and cities across the UK, with students making up 11.7% of the total population. Despite being one of the highest density student markets in the country, PBSA in Brighton only caters for around 34% of full time students – meaning demand heavily outweighs supply. As a result, schemes like this one offer an excellent opportunity for investors, and we expect to see strong interest following the launch.”

Merelina Sykes, Joint Head of Student Property, Knight Frank