A 300-bed purpose-built student accommodation (PBSA) asset located in Kingston has been put up for sale.
The ViBE scheme comprises 189 ensuites and 111 studios with the on-site amenity provision including a gym, dance and yoga studio, meeting room, cinema room, TV lounge, dining room, games room, courtyard and bike storage.
The scheme has delivered an average occupancy of 97% since the vendor’s acquisition in 2021 and is currently more than 91% let for the 2026/27 academic year.
The asset, which is being offered to the market at a net initial yield of 5.85%, also benefits from an additional income stream of £114,500 per annum through Europcar’s lease of 50 basement parking spaces and a ground floor office.
Jamie Harris, co-managing partner at Harris Associates, which has been appointed to market the opportunity, said: “We are delighted to bring ViBe Kingston to market, a rare opportunity to acquire a highly defensive, operational PBSA asset in one of London’s strongest student sub-markets. The London PBSA market is the most compelling investment story in the UK, driven by a deep structural undersupply of beds, strong domestic and international student demand and significant barriers to new development.
“ViBe Kingston offers investors immediate access to London at an attractive yield, alongside reversionary potential. The asset has an exceptional occupancy track record and represents a standout opportunity for investors seeking exposure to the London student accommodation market.”
The asset is being offered for sale by private treaty, with pre-emptive bids considered. The property is held in a single-asset SPV, which is available to acquire via a share sale.
