A prime student accommodation development opportunity in Swansea has come to the market.
Property advisor, Cushman & Wakefield has been appointed to market a 0.75 acre site in the city’s Maritime Quarter which has planning consent for a 287 student accommodation studios and three commercial units.
Swansea is home to over 22,000 students and two universities – Swansea University and University of Wales Trinity Saint David (UWTSD), the latter of which has started work on a new £300m campus on the Waterfront, which faces the site.
Olan Coyle in Cushman & Wakefield’s Student and Residential Investment team:
“This is a unique site facing the Swansea Marina and just a few minutes’ walk over a footbridge to the new UWTSD campus. The site is also a five minute walk from one of South Wales most attractive beaches. This is a rare opportunity to acquire a prime city centre development site with planning permission already secured.
“Latest Cushman & Wakefield research shows the rate of average rental growth is up 26% from 2.30% last year to 2.90% this year. In Swansea there is a high level of demand for student accommodation which will be further enhanced by the new UWTSD campus a short distance from the site. As a result, we anticipate interest from a wide range of UK and overseas investors.”