Coral takes cornerstone investment in largest student accommodation deal since 2008
Coral has taken a cornerstone investment into the largest student accommodation deal since 2008 with the purchase, through Nido, into three Blackstone investments in London in Notting Hill, Kings Cross and Spitalfields. All three properties are among the UK’s feature student accommodation buildings and represent excellent investments for the Fund.
These investments give us excellent exposure to high end London Zone 1 and 2 student accommodation, which is both rare and considered at the low end of risk in this sector. The portfolio is 96% let and provides top end accommodation specifically designed for the flourishing overseas student population in London with one of the highest concentrations of overseas students for any city in the world.
The Nido concept aims to provide a “hotel” feel for wealthy overseas students studying in the capital. It markets directly to students rather than forming partnerships with universities, average rents are in the £250-£300 per week range. With this exciting development and others coming soon, we believe we are now moving the Coral Student Portfolio to a completely new level that will offer unprecedented diversity, growth prospects and a key city approach to both enhance these possibilities whilst at the same time mitigating risk.
More information can be obtained from your usual Coral contact.