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KING STURGE MARKETS MAJOR STUDENT ACCOMMODATION DEVELOPMENTS

Investors are being offered the opportunity to buy two major new student accommodation developments in London and Exeter.

The properties are owned by Opal Property Group, which already operates over 18,000 student rooms in 16 UK cities, and are being marketed by international property consultants King Sturge.

The London property, The Arcade, located on Holloway Road, is close to London Metropolitan University and Holloway Road Underground Station, which provides links to Russell Square Universities within seven minutes‘ journey time. Opal 1, Exeter, is located adjacent to the University of Exeter‘s Streatham Campus and only 20 minutes walk from the city centre.

Tom Francis, partner in the student accommodation team at King Sturge, said: “Both these superb properties are located in markets where there is a very strong occupational demand from students.

“The London property is offering fully refurbished non en-suite accommodation at £165 per week, well beneath what you would normally expect to pay for private sector student halls in the capital.”

He added: “London‘s universities are only able to provide accommodation for 17 per cent of their full time students and the direct let private sector only accommodates some 4 per cent, leaving about 79 per cent of full time students unable to obtain university or private sector purpose built accommodation.”

Turning to the Exeter property, Mr Francis said: “There are more than 14,000 full time students studying in Exeter, an increase of 12 per cent on last year, and 64 per cent of those cannot find university provided or private sector purpose built accommodation.

“The market there is incredibly robust and provides plenty of opportunity for strong rental growth, especially given the city‘s limited land supply and higher than average numbers of international students and full time postgraduates.”

Opal is the largest private owner of student accommodation in the UK. In the past year it has successfully delivered a development programme adding over 2,600 new beds in four schemes across London, Nottingham, Manchester and Sheffield.

Opal has an on-site development pipeline of 1,500 beds and is working on a number of other potential development opportunities.

For more information please contact Tom Francis 0777 1742 552.

Picture caption: Street scene of Opal 1, Exeter.

Ends                                         28th July 2010

For more information, or for high res images, contact Louie Hadley on 01275 349 011 or email louie@sturgessvandamme.co.uk