Knight Frank’s student property team has sold a development site with full planning consent for purpose-built student accommodation on the Kingsway, Swansea, on behalf of NMJ Property Developments to Crosslane Student Developments.
Kingsway is the latest development in Crosslane’s recently announced joint venture with Harrison Street Real Estate Capital, one of the largest real estate investment firms dedicated to the education, healthcare and storage sectors.
It is scheduled to be completed in time for the start of the 2019/20 academic year.
The city centre scheme comprises 281 en-suite bedrooms arranged in cluster flats and 26 individual studios.
The site is one of a number in the city that have received planning consent in recent months for development into student accommodation, reflecting the need in Swansea for more purpose-built accommodation to satisfy the growing student population.
Rachel Pengilley, partner, Knight Frank Student Property, said: “Applications to Swansea University have grown by 60% over the past three years. Demand for purpose-built student accommodation in the city remains high as it supports the university in its growth ambitions, while also freeing up more housing for local families and young professionals to rent.”
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