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Back to school…my site visit to Liverpool
February 27, 2012Article by Ray Withers
It wasn’t only my kids going to school last Thursday morning, I too, armed with some porridge and a hot chocolate, made the journey to Liverpool, home to our highly successful student accommodation projects.
With our tenth project from the same established developer partner launching this week, I took the opportunity to return to Liverpool to check on progress of the previous purpose built student accommodation and I was certainly not disappointed.
Two and half hours from London I arrived on the Pendalino train and was met by our partner. With the temperatures dipping below zero we hastily made our way to our first stop – Victoria Court. It was wonderful to see this project come to life from the floor plans I had studied to tangible bricks and mortar. The standard of finish was as high as ever and the first set of student residents are set to move in very shortly.
From Victoria Court we went to Oliver House set within the thriving student hub of Bold Street. Now occupied and with investors receiving returns, the property has a new ground floor sports bar which from what I could see, was very popular!
Our next stop was to our newest project, The Papermill on Henry Street. Occupying the same superb prime location as Gradwell Street and Bold Street, Henry Street is set between Chinatown and Liverpool One, just minutes from bars, restaurants and the shopping centre. The 19th century former papermill was imposing in its design with a vast entrance door and vaulted atrium. Vast enough to accommodate 104 en-suite student rooms, The Papermill will be impressive for students and investors alike with 10% NET yield, assured in year 1 and payments starting from Jan 2013.
Finally, as my day drew to a close, we paid a visit to St Andrew’s on Rodney Street. I was delighted to see that construction was well underway on the iconic building which had been derelict for decades. Backing on to a campus of John Moore’s University, soon to be home to some 27,000 students in the 2012/13 academic year, and only 3 minutes walk to the main campus, the location could not have been better.
After being involved in eight student accommodation projects now in Liverpool over the past 2 years, it was really wonderful to see the developments coming to fruition and student tenants enjoying the rooms. Having witnessed the professionalism, dedicated and attention to detail of our developer partners in delivering each project on time and to such high standards I am confident that our latest offering, The Papermill, available with an investment of £48,000, will be no different.