Purpose-Built Student Accommodation (PBSA) refers to residential properties specifically designed and built for student living.
These accommodations are usually located near universities or colleges and are equipped with features that cater to the needs and lifestyles of students. PBSA has become increasingly popular due to its numerous benefits and the growing demand for quality student housing.
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PBSA is typically located within walking distance or a short commute from universities and colleges, making it convenient for students to attend classes and participate in campus activities. The rent for PBSA often includes utilities such as electricity, water, and internet, simplifying budgeting for students. These properties are designed with the safety of students in mind, featuring secure entry systems, CCTV, on-site security personnel, and sometimes even 24/7 reception desks. They come fully furnished with essential items such as beds, desks, chairs, and storage solutions, reducing the hassle and cost of furnishing a place.
PBSA developments usually include communal areas such as lounges, study rooms, gyms, laundry facilities, and sometimes even cinema rooms, fostering a sense of community and providing spaces for social interaction.
Many PBSA properties have on-site management teams that provide support and maintenance services, addressing any issues promptly. They also offer flexible lease terms to accommodate the academic calendar, including options for short-term stays during summer or for the full academic year.
PBSA provides a supportive environment that enhances the overall student experience by offering amenities and services tailored to student needs. The communal spaces and organised social events help students to build a sense of community, making it easier to form friendships and networks.
Parents can feel reassured knowing their children are living in secure, well-maintained accommodations with professional management. With on-site study areas and fewer distractions than off-campus housing, students can focus better on their studies. The all-inclusive rent model helps students manage their finances better by eliminating unexpected utility bills. Proximity to campus and amenities like on-site laundry and gyms make daily living more convenient for students, saving them time and effort.
PBSA properties are usually well-maintained and up to modern standards, ensuring a comfortable living environment. They offer various room types, from shared dormitory-style rooms to private studio apartments, catering to different preferences and budgets.
Are you looking to invest in student property, but don't know where to start? Look no further! Here at Elavace, we offer an end-to-end solution for commercial property owners. We'll take care of everything from finding the right property for you to managing it after the purchase.
Get in touch with us and let us know what your investment goals are. We'll help you find the right property and provide all the support you need to get started.
Once you've found the perfect property, we'll help to guide you through the relevant documentation you require to begin the purchase. Our after-sales team will then begin the exchange process, ensuring necessary legal documents are in place.
Once everything is finalised, we'll take care of all of the day-to-day management of your property. This includes finding tenants, collecting rent, and dealing with any maintenance issues that may arise.
In the UK, the PBSA market has seen significant growth in recent years. As of 2024, there were over 650,000 PBSA beds available, with a growth rate of approximately 6% annually. This growth is driven by increasing student numbers and the demand for higher quality and more secure living conditions.
The market is highly competitive, with an occupancy rate of over 97% in many areas, reflecting strong demand. The sector has attracted considerable investment, with over £4.5 billion invested in UK PBSA in 2023 alone. This investment highlights the confidence in the continued expansion and profitability of the market.
The average weekly rent for PBSA in the UK varies by location, but it typically ranges from £120 to £400, reflecting the wide range of options available to suit different budgets. Purpose-Built Student Accommodation is an increasingly popular choice for students due to its convenience, safety, and supportive community environment. It offers numerous benefits that enhance the student living experience, making it an attractive option for both students and their families.
