Quintain has secured 99.5% occupancy across its student portfolio for the 2011-12 academic year.
The firm said its iQ student accommodation fund – a joint venture with the Wellcome Trust – will receive around £24m from the strong occupancy rate across its 4,510 beds, reflecting rental growth of 4.3% on a like-for-like basis.
Since its creation in 2006, the fund has completed 12 projects.
Ian Scott, Quintain’s fund manager for iQ, said: “While the exceptionally strong demand seen this year for student accommodation partly reflects higher-than-normal application numbers ahead of the tuition fee rise in 2012, there still remains a severe shortage of good-quality, purpose-built accommodation, especially in London.
“With our scalable platform, iQ is ideally placed to expand our market share and further increase income.”
joanna.bourke@estatesgazette.com
