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Preston: a popular student destination

Preston student demand university property investment
Apr 14, 2015

Preston has the eighth largest university in the country and is an award winning student destination. This article looks at how this feeds into high demand for Jubilee Court, our new build student property development.

 

Highlights

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Introduction

Preston: a vibrant UK city

Preston has a total population of approximately 140,000. This means that the 32,000 students at the University of Central Lancashire (UCLan) make up 22.86% of the city’s total population. This has nurtured a young and vibrant city culture that is appealing to prospective students and is an important element of university selection for many.

With students making up such a high proportion of the city’s population, this community has a real impact on local culture. Local residents view this positively and there is generally a close relationship between students and locals. Prestonians value the students’ contribution to city life and culture and the influence that UCLan has on the local economy. It is estimated that the university pumps £300 million into the local economy each year.

 

The role of the Students’ Union

Preston's hub for its growing student population

Preston’s Student Union has to work effectively to look after its large body of members. It also as an important role in cultivating working relationships with the universities teaching and administrative staff as well as city residents. Its success here has been recognised as follows:

  • A Silver Standard in the Sound Impact Environment Awards, 2007 and 2008
  • A Gold Standard in the Sound Impact Awards, 2009
  • Ranked top in the 2010 Times Student Experience Awards

The Student Union has also proved adept at event management. Its building is home to the award winning 53 Degrees, a venue that has welcomed famous acts such as Dizzie Rascal, Ian Brown, The Hoosiers, Kaspian and Scouting for Girls. The venue also hosts “Promo”, the largest event on the city’s student nightlife calendar. It is also the location of “Stand and Deliver”, the most well-known comedy event in the North West.

 

Improving transport infrastructure

Beyond an eclectic nightlife and coffee shop culture, Preston is also close to Manchester and Liverpool. Only an hour away, these two globally recognised cities offer a wide range of cultural and entertainment events. They also boast various Premiership football teams and a wide range of shopping opportunities. The breath-taking natural beauty of the Lake District and the Yorkshire Dales are nearby, while Blackpool is also a popular holiday destination.

The M1 and M6 motorways provide good transport links to London and the rest of the UK. The international airports at Leeds, Bradford, Liverpool, and Manchester grant air access to the rest of the world. This is convenient for international students, tourists and local residents alike.

 

Preston’s booming economy

Faster economic development than London

The Preston economy is a popular destination for international investment. This totalled £393 million in the first 9 months of 2013, a figure higher than anywhere in the UK outside of London. Regionally, the North West has brought in £938 million worth of foreign investment over the last 5 years.

Looking to the future, the recently announced City Deal will see £430 million of government money invested in Lancashire’s economy and infrastructure. This decade long project will help stimulate further regional investment long into the future.

 

Student property investment opportunities

Purpose Built Student Accommodation

UCLan currently has over 2,000 international students enrolled on its courses, and this figure is set to rise even higher. This is based on UCLan’s improving international reputation alongside the imminent deregulation of the cap on foreign student intake levels.

This demographic has high expectations in terms of the quality of their accommodation. They favour upmarket, Purpose Built Student Accommodation (PBSA) over rooms in Homes of Multiple Occupancy, and are equipped with the necessary funding.

Considering the undersupply of top quality student accommodation to meet rising demand, the new Jubilee Court Student Property investment will experience high demand from students and investors alike. Highlights of this opportunity include:

  • 10% NET income fixed for 10 years
  • Immediate income option
  • Professional onsite management – every detail, every day
  • Zero operating costs for 10 years
  • Built by the UKs only NHBC-certified student developer
  • Prices from £46,950

 

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