Leading legal advisors to the student accommodation sector
A dynamic area within the real estate market, the student accommodation sector has grown rapidly over recent years. The sector has a proven, resilient track record and purpose-built student accommodation (PBSA), now considered a mainstream asset class, is viewed as a key investment opportunity by many prominent UK investment funds and is also attracting significant interest from the international investment community.
Forsters has a strong track record of working with investors, real estate funds and developers within the student accommodation sector. The firm’s ability to provide the full range of services - from site acquisition, to ongoing strategic management and then disposal – puts us in a strong position to provide strategic and commercial legal advice to ensure best value is achieved.
We can bring together the specific expertise required to serve the needs of investors and developers in the sector. Our experience is extensive and covers:
- Site acquisition and disposal
- Forward fundings
- Debt finance
- Nomination agreements
- Construction contracts
- Construction disputes (including cladding issues)
- Development management agreements
- Planning consents/S106 agreements
- Property and facilities management agreements
- Joint venture agreements
- ASTs and licences
- Rent arrears and disputes
- Tax planning (particularly VAT considerations)
Our track record
We are proud to have acted for a number of our key clients in this sector including:
- BMO Real Estate Partners
- British Airways Pension Fund
- HG Developments/Construction
- LaSalle Investment Management
- Patrizia Property Investment Managers
- Q Investment Partners
In our #FORStudentAccommodation mini-series, we will explore and share with you some of the legal and topical issues we are encountering.
Acting on behalf of Singapore-based private equity firm Q Investment Partners, we are delighted that out Student Accommodation team has facilitated a joint venture with Hurlington Capital to develop an £80 million student accommodation site in Woolwich.
A Planning Inspector has ruled that a planning condition imposed on a student accommodation development, restricting the accommodation to only be used by students, is unnecessary.
Acting for Singapore-based property firm Far East Orchard, we are delighted to announce that our Student Accommodation team has completed on the purchase of the Emily Davies Halls of Residence, a purpose-built student accommodation development in Southampton, for £13.9 million.
On Tuesday 9 May, LD Events organised an in-depth review of the current student housing market with panel discussions from a wide range of industry experts.
The last few years has seen an increasing focus on modular buildings as a potential solution to the UK’s housing crisis. The Housing White Paper, published in early 2017, made reference to diversifying the housing market by promoting more modular and factory built homes – but how does this method of construction differ from the market-norm?
Forsters has advised a pension fund managed by LaSalle Investment Management (LIM) in relation to the forward funding of a student accommodation scheme in the Eastside Locks area of Birmingham for a price in excess of £43 million.