Prime Student Living agrees Bristol lease

By James Buckley - Tuesday, September 12, 2017 9:14

Prime Student Living, the lettings and management arm of the Crosslane Group, has negotiated on behalf of the Victus European Student Accommodation Fund a new lease agreement with the University of Bristol in respect of 90 en suite bedrooms at the VESAF Harbour Court student accommodation development in Bristol.

The lease agreement commences in September 2017 for a period of three years over which time the bedrooms at Harbour Court will be let at current market rates to students provided by the University of Bristol, which will guarantee 100% of the annual income.

The remaining 43 self-contained en suite studios at Harbour Court are marketed directly through Prime Student Living and are already fully booked for the 2017/2018 academic year. Prime Student Living has managed Harbour Court since practical completion of the building in September 2014, following its development by Crosslane on behalf of VESAF, and the building has been fully occupied every year since.

Tommy Styles, Operations Director of Prime Student Living, said: “The new Lease Agreement provides the University of Bristol, one of the UK’s top universities, with dedicated access to much needed premium accommodation for its students, and provides committed income for 90 en suite bedrooms at Harbour Court for three years. Prime Student Living looks forward to a strong working relationship with the University of Bristol going forward.

“While the focus of Prime Student Living across the rest of the portfolio under management remains on direct-let student accommodation, we will assess the dynamics of each particular market and implement the most appropriate rental strategy for each asset to drive maximum value.”

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