Harris puts major UK PBSA portfolio on the market

Harris Associates is putting a 2,000+ bed PBSA portfolio across five undersupplied UK university cities on the market, on behalf of owners Southern Grove and Tadhamon Capital.

The Future (Portfolio) comprises 2,049 beds across five freehold assets in Nottingham, Guildford, Colchester, Sheffield and Loughborough.
'All five assets represent a rare opportunity to amass considerable scale in the PBSA sector, a marketplace with strong tailwinds and structural under-supply',' Harris Associates said in a statement.

The portfolio presents a unit mix, comprising spacious cluster en-suites (66%), studios (24%), townhouses (6%), and one-to-three-bedroom apartments (4%).
The properties are expected to generate a gross operating income (GOI) of 20.695 million in the academic year 2023/24.
Howard Kennedy is advising the entities which are selling The Future Portfolio, Southern Grove and Tadhamon Capital, on all aspects of the sale transaction. 

Jamie Harris, head of Student Accommodation at Harris Associates, said, 'We are thrilled to introduce The Future Portfolio, a collection of the UK’s leading PBSA assets. Being at the forefront of marketing in the agency world, Harris Associates filmed videos at each location to showcase the assets to potential buyers, while speaking to student occupiers. There was unanimous positive feedback, focusing on the best-in-class design and specification, strong micro-locations and vibrant community events that these schemes offer.'

He added: 'The Future portfolio is an opportunity to acquire a truly transformative portfolio and amass scale in key university cities with structural undersupplies. With its defensive mixture of clusters to studios, a portfolio of this nature is simply unable to be built again.'


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