Unused buildings 'could become student accommodation'

18 November 2011

Written by Jenny Barrett

Vacant buildings are an investment opportunity for people intending to provide student housing.

This is according to FreshStart Living marketing director Stephanie Sowerby, who noted planning permission can often be easier to attain when making renovations to these premises.

Limited property development finance will be needed, as they can "usually be obtained very cheaply and transforming them into student accommodation is very easy and cost effective", she continued.

A lack of available space in city centres is responsible for this, the expert declared, pointing out residences for university attendees need to be "centrally located".

The educational institutions find this asset class particularly lucrative but "simply can't afford to put money in to more property", Ms Sowerby added.

As there could still be a large number of foreign students in the UK when the tuition fee cap is removed, Easyroommate.co.uk director Jonathan Moore recently said the best investment opportunities in university housing will be higher quality and luxurious premises.