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

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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 July 28-August 03, 2023

United Kingdom

• Amber unveils its first-ever Student Housing Partners Report, providing gateway to insights for revenue growth and expansion strategies for the industry stakeholders (Pie News)
• CBRE’s latest report exposes the unmet demand of 350,000 PBSA beds in UK student housing market, Manchester and London suffers through the biggest beds shortfall of 23,186 and 106,000 respectively (The Tab)
• PWC reveals student enrollments in UK universities may fall due to unaffordable rents; 95,000-bed shortage predicted in cities like Glasgow, Bristol, and Manchester by 2023-24 academic year (RPN)
• Unite gets £400m loan from Legal & General Investment Management for public bond refinancing, the loan is secured against Unite’s portfolio of 23 PBSA assets in the UK (IPE)
• Gulf Cooperation Council investors seek asset diversification in UK real estate market, planning to pump $3.2 billion (AN)
• Unite Student starts construction of 271-bed student accommodation block aimed for postgraduate students at former Argos site in Nottingham (NP)
• Collins Construction awarded £26 million redevelopment contract: City View Paddington transformed into accommodation for 352 students, project completion set for September 2024 (CI)
• Bidwells on behalf of Croudace Properties submits plans for 55- en suite student rooms above Five Guys Restaurant in Magdalen, Oxford (OM)

United States of America

• The Standard, a massive 17-storey student housing skyscraper in Columbia that can house up to 678 students, officially opened its door to students on July 31 (CBR)
• Balfour Beatty acquired a 592-bed student housing community near Florida State University and the acquisition was funded by an affiliate of Walton Street Capital, L.L.C (BW)
• JLL secured funding for Mosaic Investment Partners to develop a 260-bed student housing near the USC campus in Los Angeles. The property is planned to commence in Spring 2025 (ReBusiness)
• UC Santa Barbara's housing development plans are in turmoil as Munger Hall's vision failed and private developer withdraws, questions are raised about the lack of transparency and accountability (Independent)

Australia

• Scape Toowong sets a new standard for student accommodation in Brisbane amid 100% capacity, anticipating 40,000 incoming Chinese Students in 12 Months (AAD)
• Demand for student accommodation surges, but construction lags behind, putting pressure on housing supply, 8000 units commenced in 2019, and 2500 are under construction for the next 18 months, says Ray White Commercial Expert (EA)

Europe

• Kaiserslautern's Energy-Saving Student Accommodation receives €2 million boost from Federal and State Governments in Germany, set to be a Flagship Project in sustainability and energy efficiency (SWR)
• Norwegian Student Organisation reports shortage of 15,000 student accommodation places, urges government action on affordable homes and rent support (thelocal)
• Student accommodation sector soars in Spain as demand for residences and rental prices surge, 501,000 beds are requested for the academic year 2023(idealista)
• France's Angers faces a student accommodation crisis as rent soars to €431 on average, with 3.85 applicants for every rental offer (AV)
• Spain's Cádiz struggles with student residence deficit as high rental prices and limited availability pose challenges for University Students, 300 euros per month for shared apartments (LD)
• Limerick Council approves plans for 22-bed student apartment block near Mary Immaculate College, boosting accommodation capacity (LLD)

Canada

• Nova Scotia's student housing strategy still missing as the new school term approaches, raising concerns among students (CBC)
• Canada's population surges by 1.2 million in a year, unexpected immigration growth strains housing affordability and creates a shortfall of 500,000 units (dailyhive)