The Future Portfolio is an opportunity to acquire a prime operational UK PBSA portfolio of 2,049 beds across five best-in-class assets – all built between 2019 and 2021.

The Future Portfolio is an opportunity to acquire a prime operational UK PBSA portfolio of 2,049 beds across five best-in-class freehold assets – all built between 2019 and 2021.

All assets are located in strong micro-locations in top performing university cities, with compelling supply and demand characteristics.

The portfolio offers an attractive and defensive unit mix of well sized cluster en suites (66%), studios (24%), townhouses (6%) and one-to-three bedroom apartments (4%). Due to inflationary construction costs, much of the ongoing regional pipeline is predominantly studios, meaning this form of accommodation, which has a majority cluster quantum, is unlikely to be built again.

Each asset offers plentiful interior-designed amenity spaces, creating a differentiated, premium student living experience, whilst future proofing the assets from an investment perspective. This includes gyms, cinemas, dance studios, indoor mini golf greens, roof terraces, gaming areas and private dining spaces.

The operational model provides a vibrant selection of ongoing events throughout the year, which has established a cast-iron reputation for the assets amongst the student community.

The University of Nottingham and the University of Sheffield are both members of the prestigious Russell Group, providing the highest standards of UK Higher Education.

The assets are subject to ongoing, fantastic student reviews, with an average of 4.3 stars on Google.

Against a backdrop of increasing international student numbers (+3.1% on 2022), 314,600 domestic 18-year olds applied for university through UCAS for the 2023/24 academic year. This number is 39.5% higher than at the same point in 2020. Increasingly constrained supply of PBSA, due to construction cost inflation and a challenging planning landscape, cannot keep pace with this demand, which has seen the supply-demand gap increasing YoY.

The portfolio offers a diverse and defensive income profile with an attractive balance of domestic (c.45%) and international (c.55%) student occupiers - offering an inflationary hedge.