A consented purpose-built student accommodation (PBSA) site located in the Euston area of London has been put up for sale by receivers.
The student property team at Knight Frank is marketing 17-33 William Road and the freehold title of 35-37 William Road, by way of part property and part company share sale.
The two sites have consent for 14-storeys of student accommodation comprising 206 student bed spaces, including 102 self-contained studio bedrooms and 104 two-bedroom apartments, or ‘twodios’.
The scheme also offers 6,000 sq ft of communal amenity space, consisting of a fitness room, studio lounge and cinema, and consent has also been granted for 11,000 sq ft of affordable office space on the ground floor.
Rupert Strutt, a partner in the student property team at Knight Frank, said: “London has a serious shortage of purpose-built student housing despite its large student population. With over 60 universities and over 340,000 full-time students, of which 41% are international, the capital is unable to meet demand.
“Indeed, Knight Frank’s research shows 70% of students can’t access quality PBSA. Given strong interest from diverse investors, a new PBSA development, such as the one proposed for William Road, would be hugely welcomed in London by students searching for accommodation that aligns with contemporary needs and preferences.”
