UK based student property developer targeting the Asia Pacific market
Vita Student, a property developer that provides hotel standard accommodation to students, has announced a partnership aimed at tapping into demand from overseas student coming to study in the UK.
It is partnering with Savills International Residential Sales Asia Pacific to promote its project Vita Student at Crosshall, part of a £27million redevelopment in Liverpool city centre.
Julian Sedgwick, Savills head of Business Development believes that the student accommodation investment market is due to alter significantly.
‘The attractive yields and low entry prices have led to student accommodation being widely reported as the UK's best asset class. However due to the recent increase in tuition fees for domestic students the accommodation market is changing,’ he explained.
‘We expect to see an escalation in the number of international students opting to study in the UK. This will lead to a surge in demand for high quality self contained units in central locations,’ he added.
Recognising the shift in the higher education market Vita Student believes that it among the first to offer individuals the chance to purchase student property at a competitive price of a level of quality not seen before.
‘We were really impressed by Vita Student's offering and felt they wholly understood this trend. By appointing CRM Student as the management company our clients are able to invest with confidence knowing their property is being managed by the leading student accommodation specialist in the UK,’ Sedgewick pointed out.
The strength of interest for student accommodation investment saw Vita Student open an office in Singapore last year to better service their clients from Asia Pacific.
‘International investors are aware of the growing number of international students studying in the UK and simply recognise the opportunity and this is especially prevalent in South East Asia,’ said Justin Humphreys Vita Student's head of Business Development Asia Pacific.
‘Investors from Singapore really understand the Vita Student concept and its investment strength. I think this is mainly because Vita Student property is designed specifically to meet the needs of the growing number of international students coming to study in the UK,’ he added.
All the properties in Vita Student Crosshall will include en-suite shower rooms finished with porcelain tiling, a kitchen area with fully integrated appliances, lacquered cabinetry, corian surfacing, as well as broadband and flat screen TV.
Every student also has access to the 6,000 square foot student hub that includes a gym, pool tables, gaming area, communal iMacs, laundry room, lounging and study areas.
The complex, which will have 158 units as part of the modernisation of a 19th century building on Crosshall Street in Liverpool city centre also has 24 hour security and a reception.