A leading Midlands-based student accommodation provider has started building up its second major property portfolio and is targeting university cities across the UK.
Study Inn Group has just sold its first portfolio of 10 sites and 1,494 student beds to international investment firm Arlington Investors (Arlington).
Study Inn retained the brand and as part of that transaction will continue to operate the properties in Coventry, Nottingham, Sheffield and Cambridge for Arlington, under the Study Inn brand
It has already started to create its second portfolio – looking at all university cities across the UK – and is going to the largest commercial property show in the world to meet potential partner cities for future Investment.
Study Inn started in Coventry in 2009, and built its success on regeneration in city centres providing high-quality, serviced, en-suite student rooms with exceptional communal facilities in locations where people want to live. This drives up footfall which benefits the local retail and leisure economy and reduces pressure on housing in the suburbs.
Co-founder Kieran Leahy said: “We have positioned the group to develop the brand at a faster pace whilst continuing to abide by the standards that have made Study Inn so popular with residents and with Investors.
“We are very confident that our offer will continue to be in demand and are already on site in Bristol and continue to target all major university cities across the UK.
“This year we are now able to be accelerate our roll out and our Acquisitions Director, Sam Jefferson will be looking to start negotiations at the event.
“We work very closely with local authorities and our business model offers tangible benefits in terms of regeneration, job creation, adding vibrancy to city centres and graduate retention.
“We have used MIPIM to forge links in the past with some of our past developments coming directly from contacts made there.”
The first property in the second portfolio will be Marlborough House in Bristol which will open in September 2018. The new centre will comprise 320 rooms set out in serviced apartments. Communal facilities include a fully-fitted gym, games room, cinema, lounges and meeting rooms.
Leahy added: “Although we operate nationally, our headquarters is in Coventry and we will continue to expand our head office function this year. We have had a great working relationship and support from Coventry City Council, and are always pleased and proud to help represent the city, the county and the region at MIPIM.”
Study Inn have been members of the Coventry & Warwickshire MIPIM Partnership since it formed. The partnership is made up of around 20 private sector companies and organisations who help finance the area’s presence at the four-day event.