In the last decade, investors have rushed to the burgeoning purpose-built-student-accommodation (PBSA) sector opening new private halls in emergent locations throughout the UK with extra facilities such as gyms and private cinemas.
Luxury student accommodation provider Collegiate has been at the heart of this growing market for the past 6 years, attracting students at every stage of their higher education. In fact, Collegiate has recorded a 22% increase in first-year students opting for their accommodation for the current academic year (2017/18) than the last (2016/17), attracted to the security, safety and a wide range of on-site amenities on offer.
However, the Savills Student Housing Report 2017 points out that PBSA developments are failing to keep pace with increasing demand. The report claims that 10% more stock is forecast to be delivered in the UK this year vs 2016, highlighting the call to investors to supply more PBSA beds for the future.
Collegiate is leading this charge by increasing its portfolio substantially for 2018 and beyond.
The operator has launched several PBSA sites this year including Ernest Place in Durham and Crown House in Sheffield. But it won’t stop there, new sites in Exeter, Bournemouth, Reading and Liverpool will open next year with extra facilities for its residents and right on time for the 2017-18 academic year.
Collegiate has already increased the supply of PBSA in recent years by delivering 20,000 beds across 30 sites in the UK.
Now the operator is going hand to hand with the globalisation of higher education.
As the growth in international student numbers has underpinned demand for high quality student housing, Collegiate has turned its attention to European markets, with a heavy focus on Portugal and Spain to start.
It has acquired new sites, including Marina Real in Valencia, Aravaca in Madrid, Finestrelles in Barcelona and Marquês de Pombal in Lisbon to name but a few and has many more in the pipeline.
For the next two years, cities outside the UK hold the largest pipeline for Collegiate with almost 5,000 new beds forecast.
“We have many exciting new sites in the pipeline from new university towns and cities in the UK to popular destinations in Europe starting with Portugal.
“Unfortunately, we have to accept that it is becoming more expensive for our clients to buy land in the UK and construction costs have gone up, which is why we looked at the move into Europe.” Heriberto Cuanalo, CEO, Collegiate
The new 330 bed scheme in Lisbon will be the first to kick off the European expansion, opening its doors to residents on 15th January 2018.
Marquês de Pombal will be part of Collegiate’s Prestige Collection with residents benefitting from a private fitness suite, swimming pool and sauna, a 24-hour concierge service, club lounge and an on-site cinema.
From €135 per week, it encompasses superior studios space, two bed apartments as well as penthouses with a unique access to a terrace. Collegiate Marquês de Pombal is located in the heart of the Portuguese capital, close to the university’s campus and iconic Avenida de Liberdade.
“Lisbon is our first foray into student accommodation outside of the UK, so we wanted to create something incredibly new and exciting. The art and culture of the city are so inspiring and we wanted to reflect that at Marquês de Pombal, giving students an ultra-luxurious home from which to enjoy the best that Lisbon has to offer.” Heriberto Cuanalo, CEO, Collegiate
Savills World Student Housing report 2016/17 emphasises that Portugal’s student housing sector Is relatively undersupplied, creating an opportunity for reliable student housing operators such as Collegiate to expand their portfolios there.