Student complex in Liverpool's Knowledge Quarter
Liverpool's Knowledge Quarter is undergoing a £1bn expansion. Within the area are the universities Liverpool John Moores University, Liverpool Hope University and University of Liverpool, as well as The Royal University Hospital plus a number of scientific and medical companies. In 2018, Liverpool's 5 institutions for higher education (all located in Knowledge Quarter) received a total of 82,705 applications, of which 14,155 were accepted. In all, the number of students living in the city amounts to approximately 50,000. In all U.K. about 20% of the student population are foreign students, where most come from outside the European Union.
Natex is one of the larger student accommodation projects in the U.K. The construction consists of 566 units, where 94 are studio apartments and 472 are pods with shared kitchen. The property also houses a reception, spacious social activity areas, a café and a gym. The property is made up of 2 blocks, where block A rises 16 floors and block B 10, and is expected to be tenant ready Q3 2021.
Units have been on the market since 2018, which is why certain numbers in the documentation isn't up to date. More than 400 units are thus far sold. The property is located in the North Western part of Knowledge Quarter, within 5 minutes walking distance from Lime Street Train Station, Liverpool Hope University's city centre campus, University of Liverpool and Liverpool John Moores University which combined accommodate around 49,000 students.
Mount Property Group are behind the development, which prior to Natex has developed 11 town houses and a 70-apartment complex in Liverpool. The company is active since 2015. Mount Property Group provides a rental income guarantee of 9% of the purchase price per annum for a 5-year period. Until completion, Mount Property Group pays 3% per annum on transferred funds in interest. Dividends are paid quarterly. Financing is secured for the development regardless of number of units sold at completion and transferred funds are until completion are fully insured. A unit may be sold whenever the owner so wishes and can include the rental income guarantee for the 2nd hand buyer. Estate agent Hunters Liverpool estimates that a unit in the city on average sells in approximately 10 weeks.
University of Liverpool has stated they will refer students to Natex once the property is ready to be tenanted.
Allchurch Property Lawyers and Montecristo LLP are recommended solicitors in purchases in Natex and have costs equalling between £750 - £1000. Solicitors are used by buyers and sellers for legal safety assurance, transfer of funds and inscription in the U.K. Land Registry.
CRM Students have been appointed to take care of all administration of the property, including tenanting and maintenance. CRM Students is the biggest management company of student accommodations in the U.K. managing approximately 23,000 beds nationwide.