Amber Beat: Global Student Accommodation Market News-January 2024, Week 02

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 January 06-12, 2024

‍United Kingdom

• GRAHAM and Hampsey Ltd conclude third stage of 551-bed student accommodation construction in Glasgow at 225 Bath Street, anticipated completion in 2025 (1)
• HG Construction secures £75 million contract for 706-room student accommodation project by Studio Hive in Bristol's Temple Quarter Enterprise Zone, set for completion in 2026 (2)
• Unite Students reports 71% of beds pre-booked for the 2024/25 academic year, unveils four new development projects in London, Bristol, Edinburgh, and Nottingham (3)
• Patron Capital and Curation Capital JV acquires 136-bed student scheme on Hagley Road for £15M, marking their second acquisition in Birmingham (4)
• Brent Council approves two student accommodation towers with 639 bedrooms in 20 and 22-storey structures between High Road and Chiltern Railway Line, Wembley (5)

United States of America

• Landmark Properties successfully recapitalizes ‘The Mark Athens’, a 1,364-bed student housing facility near the University of Georgia for $140 million (6)
• Mississippi State University begins development of ‘Azalea Hall’, a 400-bed student housing complex worth $81 million, scheduled to open to students in Spring 2025 (7)
• Carson City’s FISH Student Housing Revitalization Project secures a $7.7 million loan and a $15,000 donation from Plumas Bank for development of three 3-storey affordable student housing complexes (8)

Australia

• Australia strengthens the visa requirements in its new "Migration Strategy", re-introducing two-year post-study work visa rights and increasing the financial requirement by 17% to AUS$24,505 (9)

Europe

• Polish Government grants PLN 150 Million for dorm renovations in 87 universities, including Bydgoszcz Tech & Casimir the Great University, Poland (10)
• Merkel Capital plans €450M investment, developing 5,000 beds across Spain, initiates residence construction on 5,000 sq.m plot in Pamplona (11)
• Metrovacesa and Vita Group to develop 519-room student accommodation in Madrid's Oria innovation campus, project's total investment surpasses €300 Million, set for completion in 2026 (12)
• New Milestone Wrocław Fabryczna Dormitory opens with 370 rooms for 500 students in Poland, blending history and modern design, achieves BREEAM Excellent Certification (13)
• Montane Developments seeks approval from Galway City Council for 257-bed student accommodation expansion in Ireland, including permission for height increase and additional facilities (14)
• Ignacio Prego Architectures unveils student housing project in Agen, France, offering 461 rooms, projected to be completed within a year (15)
• Ageas Portugal Group acquires 50% stake in Lisbon's 'Odalys Campus Lamas' student residence, adding 124 rooms to its portfolio, expected completion by summer 2024 (16)

Canada

• Harrison Street enters the British Columbia student housing market with acquisitions in Victoria and Burnaby, totaling around $1.2 billion in 2023, Canada Alternative Real Estate Fund becomes the country's most active investor in student housing (17)
• Numerous international students accepted in Canadian universities denied entry by Visa officers, particularly in Ontario, raising concerns about study permit rejections (18)

Sources: (1), (2), (3), (4), (5), (6), (7), (8), (9), (10), (11), (12), (13), (14), (15), (16), (17), (18)