Sama Investments acquire two PBSA schemes

Sama Investments acquires two purpose-built student accommodation (PBSA) developments - Pinnacles in Sheffield and Chambers in Wolverhampton.

The Chambers student accommodation development, acquired by Sama Investments | PBSA News
The Chambers student accommodation development, acquired by Sama Investments.

Birmingham-based developer and investor – Sama Investments – has acquired two operational PBSA schemes totalling 900 student beds. The two developments, Pinnacles and Chambers 51, are in Sheffield and Wolverhampton respectively.

The acquisitions form part of Sama Investment Group’s wider strategic approach to identify investment opportunities. This should benefit from Sama’s value-add regeneration approach across the UK.

The Pinnacles PBSA scheme in Sheffield’s Canal Basin area includes a two-, three-, four-, and five-bedroom ensuite flats. The scheme is fully occupied and is close to Sheffield Hallam University.

Ideally located, the Pinnacles is close to public transport links offering connections to the rest of the city.

The Chambers 51 PBSA scheme includes 157 student beds. The scheme has a supermarket and Post Office onsite and is a two minute walk from the University of Wolverhampton. It also benefits from 100% occupancy year-on-year.

“This is a significant acquisition which aligns well with our strategy of regenerating and adding value to established developments.

“At Sama Investments we are focused on identifying and progressing opportunities to create long-lasting value for communities. We will not only enhance the experience for students who benefit from living in a modern environment, but support the local area by breathing new life into tired buildings.”

Bilal Ahmed, Executive Chairman & Founder at Sama Investments
The Pinnacles PBSA scheme in Sheffield | PBSA News
The Pinnacles PBSA scheme in Sheffield.

Sama has already commissioned contractors to undertake full cladding and remediation upgrades, modernising the interal areas. The refurbishment is part of plans to upgrade the student accommodation, futureproofing them in the face of changing market demands and improving the overall ESG efficiency of the assets.

Once complete, nationwide student accommodation provider, Velo Student Living – part of Sama Investment Group – will oversee the management of the new assets. Velo Student Living is looking forward to its new challenge.

We are looking forward to refreshing and enhancing these two new assets. They will benefit from up-to-date facilities and the provision of premier services that will make for a high- quality living environment for residents.

“Alongside the team at Sama Investments we are dedicated to identifying opportunities across the UK and look forward to working with others to positively enhance the student accommodation sector as our educational pillars continue to grow.”

Pedro Barros, Asset Manager at Velo Student Living

Sama Investments unveiled plans, in May, to deliver its Perryian Works flagship PBSA scheme at 1 Lancaster Circus, Birmingham.

The proposals aim to transform the brownfield site, which was previously Birmingham City Council’s office building. Situated on the edge of Lancaster Circus Queensway and Lawson Street, the PBSA scheme will be delivered across two landmark towers, including one of up to 50 storeys, which will act as a focal point for the area.

The proposals for Perryian Works will support the continued growth of nearby universities, with Aston and Birmingham City University only a short walk away. It seeks to act as a new gateway from the Gun Quarter and Jewellery Quarter into Birmingham city centre.

New outdoor courtyards will open the public space and will include a landscaped pedestrian corridor. Amenities are set to include active frontages and commercial and leisure spaces.