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Property Partner Enters the Student Accommodation Market

Posted by Richard Ward in ,

Image courtesy of Flickr, Creative Commons

Property Partner has launched its first purpose-built student accommodation offering.

Through its platform, the firm provides a flexible approach to investing in residential property. Users are able to invest as much or as little as they like in specific properties and have now launched their first PBSA offering in Exeter.

The four-storey block of 29 brand new studio flats in Exeter is located on Verney Street and sits within a well-established student location in the city's centre. The property is situated under a mile from the university's Streatham campus and St. Luke's campus, as well as the Exeter Library.

The building was acquired for £3.6m and will be managed by unnamed specialists in student accommodation.

The property acquisition has been 60% funded via a mortgage, provided by a major yet unspecified high street bank, with a fixed five-year interest rate.

Shares in the property are available for pre-order up until September 20th and Property Partner are forecasting a Gross Rental Yield of 6.98% and Dividend Yield of 6.7%.