Livin Cardiff PBSA scheme sells for £13m

The Livin Cardiff purpose-built student accommodation (PBSA) scheme sells for £13m to an institutional investor.

Livin Cardiff student accommodation development | PBSA News
Livin Cardiff student accommodation development.

Acting on behalf of clients of Mutual Finance, global property consultancy Knight Frank, alongside joint agents Lewis & Partners, have sold Livin Cardiff, a PBSA scheme for £13m. Located in Cardiff city centre, the scheme was purchased by an institutional investor advised by Kimmre. 

“This asset has been part of my client’s portfolio for several years, and has proved an excellent investment during that time, providing strong returns. When the time came to dispose of the asset, Knight Frank quickly sought a buyer for the site, and we are delighted with the outcome.”

Raed Hanna, Managing Director, Mutual Finance

Livin Cardiff includes 136 student bedrooms – a mix of 134 studios and two two-bedroom apartments. Amenities include a gym, games rooms and private dining area. The scheme offers its residents convenient access to the University of Cardiff’s ‘Queen’s Building’, which houses the School of Engineering, Computer Science, Astronomy & Physics.

The Livin Cardiff development was operationally ready for the 2017/18 academic year and has proved popular with students ever since. The scheme is fully let for the 2023/24 academic year.

According to Knight Frank, Cardiff’s student market has remained buoyant in recent years, growing c.4% on the previous academic year and c.14% over the past five years.

“This opportunity was a unique chance for investors to acquire a centrally located, competitively priced and well-specified student scheme. Due to Livin Cardiff’s extremely strong occupancy track record, it was popular with a wide range of investors seeking instant income. We are delighted to have brokered the deal between our client and the purchaser.”

George Tincknell, an Associate in the Student Property team, Knight Frank

 As an increasing number of domestic and international students choose to study at the University of Cardiff, the positive trend is expected to continue. As a result, Knight Frank expects the supply/demand dynamic for Cardiff’s PBSA to be further exacerbated.