Bernard Street, Southampton, Southampton SO14
Ref No: KE003-LI-SA94
- 435 units
- Proven market
- Completing 2019
- 6.5% NET yields assured for 5 years
- Prices from £135,000
Vita Student Portswood’s location enables the brand to better serve Southampton’s two universities. Our waiting list comprises students studying at both institutions. But Vita Student Portswood is ideally situated just 6 minutes’ walk from the University of Southampton, the university 45% of our current residents commute to. What’s more, it’s positioned at the heart of an area popular with students, but where PBSA providers find very hard to acquire scalable sites.
Vita Student is already an overwhelming success in Southampton. We completely sold out the brand’s first development in the city, Richmond House, in 2014 in just over 20 weeks. It’s operated at 100% occupancy ever since. Rents have increased by 5% year-on-year. And resales investors are earning 7% capital appreciation per annum. With a growing tenant waiting list, Portswood will now continue to enhance the brand’s prestige among the students of Southampton.
Student rents in Southampton are growing at twice the national average. Why? Because this is a city with an undersupply of 21,172 PBSA units, a number that could let out Portswood 45 times. Almost 1 in 5 of Southampton’s total population is a student – and they’re looking for a place to live. This shortfall also translates into long term investor growth. Property in Southampton is expected to see 43% capital growth by 2019, the highest in the UK.