Building work will begin in Q1 2020 with Opto Property Group handling the construction. The PBSA will host 728 modern studio rooms.
Opto Student Cardiff is to include a wide range of modern communal facilities, including on-site gyms, a library, sky gardens, outdoor basketball and tennis courts, a wellness salon and spa treatment room, as well as communal courtyards.
The studio rooms are currently available as off-plan investments through Experience Invest, with self-contained apartments starting from £82,750. When purchasing an apartment, investors will receive 7.5% NET p.a. assured returns for three years. The apartments will also be delivered fully-furnished upon completion.
There are roughly 42,000 university students in Cardiff, with nearly a fifth of all students in Wales coming from overseas. The PBSA development will help cater to a growing demand for modern and high-quality accommodation, particularly among international students.
Opto Student Cardiff is estimated to be completed in Q3 2021, in time for the start of the academic year in September. Once completed, the leasing and management of each individual apartment will be handled by Opto Student Living.
Opto Student Cardiff is the fifth PBSA project for Opto Property Development and Experience Invest, having already worked together on the construction of modern student accommodation in Luton and Newcastle.
Experience Invest’s Business Development and Acquisitions Director, Jerald Solis, said:
“We have been working closely with Opto Property Group to deliver exceptional accommodation that caters to the changing needs of the modern student. I’m pleased to say Opto Student Cardiff is our fifth such venture, and we cannot wait for construction to start early next year.
“This isn’t just positive news for students in the Welsh capital – PBSA has become a popular investment opportunity for those seeking discounted off-plan property purchases, with assured long-term returns.
“With Cardiff’s student population growing, demand for accommodation is continuing to increase. As such, projects like Opto Student Cardiff ensure investors are able to benefit from the advantages of a fully-managed rental investment, while also enjoying the prospective of significant capital growth.”