March 15th – The UK’s leading provider of luxury student accommodation, Vita Student, is preparing to showcase its latest initiative at the International Property Investment Showcase in Kuwait.
Select Property, Vita Student’s master sales and marketing partner, is hosting the event, which will take place in the Crystal Ballroom, Sheraton Hotel in Kuwait City on Monday (March 18th) and Tuesday (March 19th).
Among the several property opportunities Select Property will reveal to investors will be Vita Student’s £25 million student accommodation project in Manchester, UK. The Vita Student at First Street initiative offers 9% NET rental yields assured for two years and a fully managed hassle-free investment.
Investors attending the two-day event will be able to speak to representatives from Select Property about the development, which is being built in Manchester’s centre just minutes away from city’s two major universities.
Vita Student hopes this event will appeal directly to international investors, with the brand’s director Giles Beswick saying putting money in student property is a smart investment move.
He said: “For the second year in a row student property has been named the UK’s top asset class. The main reasons for this are that the UK has some of the world’s greatest universities attracting huge volumes of foreign students, and the fact that student accommodation across the country is running at 99% capacity.”
“When you consider the average rental yield in London is 5%, you can understand what a fantastic opportunity Vita Student Manchester provides.”
Vita Student at First Street follows from the brand’s £27 million student accommodation project in Liverpool, which launched in 2012. Two of the three buildings here have already sold out, while only a handful remains in the third.
Vita Student properties will be sold to individual investors who are looking for alternative investment schemes. Investors purchase one or more units, which are then rented out on their behalf. The rental of all the units is combined and then, once management fees have been deducted, all owners receive an equal share. In addition to an extremely healthy rental yield, individual purchasers benefit from any capital appreciation on their property when they decide to sell it.
“The old image of a student landlord having to be on call 24 hours a day is fast disappearing and is being replaced by a hassle free asset which, other than the initial purchase, requires no further action from the investor,” commented Mr Beswick.
The self-contained units all include en-suite shower-rooms finished with porcelain tiling, a kitchen area with fully integrated appliances, lacquered cabinetry, corian surfacing, as well as broadband internet and a flat screen TV.
Every student also has access to the 5,400 sq ft ‘student hub’ that includes a food retail facility, gym, pool tables and gaming area, communal iMacs, laundry room, lounge and study areas. The complex itself has 24 hour security, key fob entry and secure bike storage and aims to open its doors to paying students in September 2014.
Select Property will also promote other property investment opportunities at the event, including units in West Avenue, Dubai Marina. This is the first tower that has been built in the Marina since 2008 and the Kuwait showcase will see the exclusive launch of Floor 21. Boasting Dubai’s highest-quality properties, buying an apartment in West Avenue, which completes in December 2013, could be a lucrative move for property investors.
Beachfront apartments in Turkey are also being showcased at the two-day event, with the multi-award winning development offering 6% rental guarantee and four weeks usage per year.
Notes to editors
Vita Student was founded by local entrepreneurs Chris Oakes, of Alderley Edge-based luxury residential developer Huntsmere, and Mark Stott of Wilmslow-based property investment company, Select Property. Vita Student is the first of its kind in the UK, designing, developing and delivering high quality student accommodation to a standard not currently seen in the UK.
Vita Student already has a £27million development in central Liverpool.