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Jan 21, 2013 | 0 Comment(s)
Nottingham is to receive a second exclusive student property, with Knight Knox International acting as the sales and marketing agent for the new development from Fortis Developments.
The city is becoming one of the most popular student destinations and many are looking for this sort of property investment project to capitalise on high demand.
Nottingham is currently home to over 55,000 students, but has a shortage of accommodation. This makes the market ripe for investment and Nottingham City Council has acknowledged the need for supply to match demand.
The city also has a lack of family housing, meaning that purpose-built developments for students are vital to ensure residential stock doesn't decrease further. Knight Knox is hoping to provide the answer to this problem with its new project, which will join the successful Bard House from Fortis Developments.
"Working with experienced developers allows us to deliver high-quality projects in cities with large student populations, allowing our investors to be confident that there is a strong rental market for their unit(s)," Martin Copeland, sales director at Knight Knox International, says.
Known as Minerva House, the accommodation will be a 56-unit development and is expected to be in high demand upon completion.
Built over five floors, there will be 151 individual studios, offering three different investment options for different student budgets.
Tenants will be able to choose from standard, premium and deluxe packages, which will enable them to be a part of this unique community. A range of communal facilities such as a gymnasium and entertainment lounge will also be included in the property.
Minerva House will help Knight Knox build on its performance in 2012, when 11 new student developments were launched in the UK.
"The majority of the student properties we have on our books are between 70 [and] 90 per cent sold out, leading to the launch of new residences like Minerva House, which we are confident will prove equally as popular," Mr Copeland adds.
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