Grand Square is a grand investment property with a huge potential of high return on investment. It is located within the vicinity of Perry Barr/Birchfield which has been identified by the Government as one of three ‘growth points’ for the Birmingham city. The Government has designed a regeneration framework for Birmingham city which seeks to realise the aspirations for the Local Centre which, although a vibrant centre, is currently not fulfilling its economic potential.
Birmingham is the most populous British city outside the capital London with 1,074,300 residents in 2011. Birmingham also has the UK’s largest student population outside of London, with some 65,000 students at its three universities. It is also home to 2 university Colleges and a further 37 colleges. Its major cultural institutions, including the City of Birmingham Symphony Orchestra, the Birmingham Royal Ballet and the Barber Institute of Fine Arts, enjoy international reputations. Birmingham is a cosmopolitan city with a lively student culture and a fantastically diverse cultural scene, bringing life and vibrancy to the city.
“Student housing has emerged as the best-performing asset in the UK property market generating double-digit returns resulting from strong rental growth.”
Knight Frank, a leading UK’s real estate group has stated that the rental growth in the student accommodation sector has remained robust compared to 0.6% for commercial property. It recorded growth of 5% per annum over the last 6 years and substantially higher growth was achieved in key university towns over the last few years.
“The number of students attending university outside their own country is forecast to more than double by 2025.”
CBRE reported that the number of students in private rental property has risen by 155,000 since 2007. Moreover, Investment in the UK student housing market has doubled to approximately £800m in the first six months of 2012, compared to the same period a year earlier. The student housing market has been a resilient and stable investment during the downturn and that is forecast to continue for the 2013/14 academic year with a total return of 9.3% as described by Savills, UK.