The student housing sector has been the best performing commercial property class in the United Kingdom over the past few years. Between 1999 and 2012, the number of students in higher education in the UK increased by an unprecedented 540,000. Add to that a huge influx of international students from locations such as China, Hong Kong, India and Nigeria and it is easy to see why student housing is so in demand.
With Westgate, investors are able to achieve market-leading returns through the highest quality student accommodation in one of the UK’s leading student cities. The project is located just a few minutes’ walk from Newcastle’s two universities and the city’s newly-renovated railway station, as well as right next to some of the best local bars and food outlets, and offers amenities normally associated with the finest hotel brands, rather than traditional student housing. Therefore investors can be confident that it will sell out to tenants.
About the development
Starting Price (Pounds)
Minimum net return
- 259 off-plan student apartments due for completion in March 2016
- Investment of £90,474
- Minimum net annual income £6,333
- 7% net yield for 5 years
- Additional returns of 4.5% p/a between completion and tenancy
- No need to pay full balance until completion in March 2016
Some of the key features of this investment are:
- Prime location, minutes’ walk from city centre and both universities.
- Ensuite shower room.
- Free 100Mb broadband and TV.
- Secure entrance door with key fob access.
- Weekly cleaning service.
- Skype room.
- Onsite gym & sports facilities.
- Onsite cinema.
- Lounge with full range of TV channels.
Want more info?
Want to learn more about this great development? Contact us today for the latest availability and details:
Where is Westgate?
Newcastle is one of the most popular student cities in the UK with two universities, Russell Group member Newcastle University and Northumbria University. Newcastle University enjoys 90% student satisfaction among international students while 86% would recommend the University to friends.
Additionally, the Tripadvisor Travellers’ Choice Destination Awards listed Newcastle as having the 7th best nightlife in the world, while the city’s Grey Street was voted the best overall street in the UK by BBC Radio 4.
From an investment point of view, Newcastle has one of the biggest demand to supply ratios in the UK with four out of five students looking for purpose built student accommodation. Between them, Newcastle University and Northumbria University attract over 50,000 students yet 40,000 of these students do not have access to purpose built accommodation.
Furthermore, Savills has recently elevated Newcastle into its first tier of student property investment opportunities in the UK. In this definitive rankings of over 50 cities, Newcastle was one of only a select few to display any upward movement in this year’s rankings. In the past year, Newcastle has seen a 6% increase across studio stock and the largest apartments now command an average rent of £185 per week.