Amber Beat: Global Student Accommodation Market News - December 2023, Week 01

Missed keeping track of all the latest happenings in the student accommodation market?

Amber Beat is a weekly snapshot of the key developments in top student accommodation markets.  This newsletter provides you with all the information you need to know, from new upcoming projects to current trends, news affecting students to government policies, we’ve got you covered!

Amber Beat | News from December 01-08, 2023

United Kingdom

• UK’s higher education sector registers fallen demand in major non-EU markets like Nigeria and India with a decrease in deposits and CAS/visa issuance by 74% and 76% respectively for January 2024 intake  (1)
• UK PBSA providers grappled with fake bookings and high cancellation rates from China in Glasgow, Durham, York, and Bristol (2)
• Bath universities raise concerns about substandard student housing in Bath and Somerset Council meeting, reporting depression and anxiety amongst more than 50% of students (3)
• University of Oxford students forced to sleep outside as housing shortage leads to overnight queues at Finders’ Keepers estate agents (4)
• The Student Property and Knight Frank, representing Scape Living, set a guide price of over £67 million for Circus Street student accommodation in Brighton, featuring 450 student rooms (5)
• Queen’s University Belfast invests £100 million in expansive student accommodation plan across Dublin Road, Laganbank, and Brunswick Street (6)
• Developer Watkin Jones reveals 800-room student accommodation skyscraper plans to redevelop Portcullis House on India Street, Glasgow (7)
• McAleer & Rushe marks topping out of ‘The Place’ a 409-unit PBSA building near Nottingham Railway Station, completion planned in 2024 (8)
• Seddon completes £4 million refurbishment of University of Manchester’s ‘Graham’ student accommodation building, converting it into a sustainable property with features like composite windows and solar panels (9)

United States of America

• Stratus Development Group breaks ground on ‘The Haven at Wake’, a 153-bed student housing complex near the Wake Forest University in Winston-Salem, North Carolina (10)
• Capstone Real Estate Investment sells ‘Landmark Apartments’, a 264-unit student housing community in Murfreesboro, Tennessee (11)
• University of Memphis, Tennessee plans to develop a 540-bed apartment-style student housing complex for the Park Avenue Campus by Fall 2026 (12)
• Prospera Growth Fund arranges a $96.7 million financing package to refinance ‘Axis Luxury Living’, a 1044-bed student housing project in Orem, Utah (13)
• CBRE Investment & GMH reveals plans to begin renovations at ‘Venue at North Campus’, a 734-bed student housing facility near the University of South Florida (14)
• Madison, Wisconsin to get multiple student housing schemes, under construction projects include Oliv (386 units) on West Gorham Street, VERVE (536 beds) near UW Madison, Chapter at Madison (172 units) and Atmosphere Madison (363 Units) aiming to avail after AY 2024-25 (15)

Australia

• IDP Education tracks a 20% increase in the number of international students seeking to study in Australia in 2024 (16)
• Surge in international education exports boosts Australia's economy by $12.1 billion, while stakeholders warn against new policies amid recovery challenges (17)
• Australia’s Student Accommodation Council advises against Australian Universities Accord panel’s suggestion of levying tax on international students stating the negative impact on international enrolments and accommodation providers (18)

Europe

• French Government announces to build 35,000 new student accommodations by 2027 to mitigate student housing crisis (19)
• University of León's Ponferrada Campus to unveil new €2.94M 70-bed student residence by April, financed by government council subsidy and Spanish Just Transition Fund (20)
• Besançon in France welcomes 'La Comtoise' 105-unit student residence to address growing housing demand (21)
• Seville City Council grants license for the construction of 494-room student residence in La Cartuja, Spain (22)
• Levallois in France to repurpose Vasco de Gama Office as student residence, adding 310 living spaces in a €50 million transformation project (23)
• Ireland High Court rejects €30M Limerick student accommodation plan for second time due to site contamination concerns and ongoing disputes (24)

Canada

• Holiday Inn site on Scottsdale Drive, Guelph to be developed in 2 phases, providing a total of 764 beds for students (25)
• University of Victoria completes the construction of 385 single room dormitory style on-campus student residences for first-year students (26)
• Downtown Vancouver Student Housing Tower, at 718 Drake Street, formerly known as GEC Granville Suites, sold in a $70 million deal (27)

Source: (1), (2), (3), (4), (5), (6), (7), (8), (9), (10), (11), (12), (13), (14), (15), (16), (17), (18), (19), (20), (21), (22), (23), (24), (25), (26), (27)