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A New Level of Luxury in Student Accommodation

Dec 20, 2018

If you think about student accommodation and unpleasant memories of damp walls, cramped houses and broken boilers come to mind, you may have been right twenty years ago. But in 2018 things are different. The UK higher education sector is worth billions to the UK economy and student experience is one of the driving forces behind this.

If students are being enticed into spending tens of thousands of pounds for a world class education, they are expecting far more from their accommodation than ever before. 24-hour concierge services, rooftop bars, high end interior design and communal cinema rooms are just some of the luxury features that are appreciated and expected by the discerning students of the 21st century.

The university sector has become one of the biggest industries in the UK, and the purpose built student accommodation sector has followed suit, changing the face of student accommodation for an increasing number of students who want more from their environment than four walls and a broken desk

In 2016-17 there were a huge 2.32 million students studying in the UK, making up a considerable percentage of the population. In 2014-15 universities generated £95 billion in gross output for the UK economy and earned £34.7 billion total income in 2015-16. Universities are now a major factor in city planning, economic strategies and growth plans for a plethora of companies, and their economic value can’t be ignored. These incredible numbers have meant that universities, despite their best efforts, have been unable to provide beds for every student that decides to study in Britain.

The demand for student accommodation has been so great that the private sector has increasingly been playing a pivotal role in providing student housing. With such impressive numbers and international attention, the industry has had to adapt to be able to provide the first-class luxury accommodation students are looking for.

The levels of luxury expected from students in the UK may seem excessive, chandeliers, photo booths and games consoles included, but there is a real demand for properties that offer students a unique and comfortable experience. Students now expect to leave university with a mountain of debt, so extra spending on beautiful accommodation isn’t as daunting as it may appear.

Hotel style suites with a private kitchen, shower room and front door allow students a greater level of privacy than students have been accustomed to, fridge fighting and broken bathroom locks are a thing of the past here. Work rooms, on-site cinemas, floor to ceiling windows and art on the walls all contribute to a luxury experience that would be unrecognizable to students twenty years ago.

Hamilton Hub, a recent student accommodation development on the Wirral in Merseyside is a prime example of the new levels of luxury in student accommodation. RW Invest’s luxury development is perfect for the new generation of students who are looking for a little extra.

With 142 studios and 58 en-suite pods, tenants are treated to premium facilities like an on-site gym, communal lounge complete with snooker table and sofas and a landscaped secret garden that wouldn’t be out of place at Chelsea flower show. Luxury furniture, minimalistic modern décor and an all-inclusive pricing strategy that includes bills as well as rent shows just how far student accommodation has come.

Luxury student accommodation is also providing lucrative opportunities for savvy investors who have recognized this dramatic shift in the market. The rental rates of purpose built student accommodation have increased 80% in the last 10 years and with yields of 8% and higher, the return on investment for a luxury student accommodation property are an attractive prospect for prospective investors.

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