Property News Feed
Fund targets Manchester student market
29/10/2008
A Cheshire-based investment company has moved to cash in on the strength of the student property market in Manchester.
Braemar Group has launched a new fund which will invest in halls of residence, in the hope of taking advantage of both the increase in student numbers and a rise in rents.
Despite those trends the group expects some private landlords to move out of the student market because of regulatory changes, making the opportunity to profit from halls of residence even greater.
Speaking after the fund made an initial investment of £8.1 million in the property at the University of Manchester, Braemar Group's chief executive Marc Duschenes told Citywire: "It is a counter-cyclical sector. The fewer people you have in employment, the more you will have in higher education."
Figures recently published by Halifax showed that the average rent paid by a student in north-west England is £100 per week.
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