With only a quarter of UK students living in purpose-built accommodation while studying, Preston’s new Urban Hub helps redress the balance, and represents an appealing proposition for learners and investors alike. A new, dedicated living space for university students in the UK’s bustling north-west city of Preston has been unveiled by international property development specialist – Pillars.
Pillars’ Urban Hub in the heart of the city will feature 425 fully-furnished studio rooms, and will afford residents access to an exclusive gym, cinema room, prayer room, laundry, library and a beautifully-landscaped roof terrace. Located right next to some of the University of Central Lancashire’s key buildings, the Urban Hub – which will be expertly managed, 24/7 – offers students a total of 22,000 square feet of private outdoor spaces, and comes with a five-year rental guarantee for investors.
A clear demand for better properties
The UK student accommodation market is catching investors’ attention, says Pillars CEO, because there is such clear demand for better properties.
“There are around 2.3 million students pursuing higher education in the UK, yet only 600,000 of them are staying in purpose-built student accommodation (PBSA),” he says. “Our aim was to set a new standard in university living in Preston, where the shortage of purpose-built accommodation is evident, by giving British and international students a modern and stylish place to call home during their studies. We also wanted to give investors looking to get into the fast-expanding PBSA market an easy way in.”
A multitude of factors helped Pillars hone in on Preston as the perfect place to break ground. The region is in the midst of a £430m 10-year development programme that will improve everything from outdoor spaces and health facilities to public transport, and the university itself is in the midst North-West of an exciting £200m facelift. In addition to this, Preston has excellent international links thanks to its proximity to two major airports, and the city has previously been singled out as the best place to live and work in the north west.
Tapping into a substantial market
Clearly, with well over 20,000 students calling the University of Central Lancashire (UCLan) their home, the six-storey Urban Hub is well positioned to cater to those who want something better than a shared student house or a relative’s spare room on the edge of town. “The Hub ticks all the boxes,” adds Pillars’ spokesperson. “It will attract students looking for comfort and class on the one hand, whilst also bringing recurring returns to investors at an affordable price point, and in a totally hands-off manner.”
This buy-to-let nest egg will also help cement Preston’s reputation as one of the north-west go-to cities, he says, with students able to enjoy the very best the region has to offer in style.
For further details about Urban Hub, please visit » www.pillars-urbanhub.com.