NOTTINGHAM, UK—Knight Knox International has kicked off a pair of student housing projects in the United Kingdom, located here and in Bolton. The company's prior developments in these cities, Bard House here and Nelson Square in Bolton, sold out within five months of their launch.
“The success of our recent projects in these areas has shown to us how drastic the need for purpose-built student accommodation is in regional locations,” says Knight Knox sales director Martin Copeland. “The number of enquiries for student housing in Nottingham and Bolton is still growing, because of the simple mismatch between supply and demand.”
In Nottingham, the company is building Halley House, a four-story, 61-unit studio property with a fully equipped gymnasium and common room. The starting price for the units is £49,950, and the firm assures two-year net yields of 9%.
An historic former church in Bolton is being turned into a three-story, 42-unit community known as Trinity Church. A four-floor apartment complex will also be built to the east of the church and a two-story property, called the Lodge, will be put up on the other side. Together, the buildings will contain 40 apartments. The complex sits in close proximity to four universities. Individual units will be available at a starting price of £47,950 and may be re-sold on the open market as a traditional buy-to-let investment.
“Over the past 18 months we've had our name on more than 10 completed high-yielding student developments and these two new launches are only further proof of the continuing demand for boutique student property in regional locations,” says Copeland.
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Sule Aygoren
Aygoren oversees the editorial direction and content for ALM’s Real Estate Media Group, including Real Estate Forum and GlobeSt.com. In her tenure with ALM, she’s held roles of increasing responsibility, including Managing Editor. Aygoren has received several awards for her coverage including Best Trade Magazine Report from the National Association of Real Estate Editors and the James D. Carper Award for Young Journalists. Under her direction, Forum has received four national NAREE awards for Best Commercial Real Estate Trade Magazine.
