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£110m PBSA Asset Sold in Canterbury

Posted by Calum Martin

Image courtesy of Flickr, Creative Commons

A £110m deal has been struck for Palamon Court, a purpose-built student accommodation asset in Canterbury,

Sold by Knight Frank, who acted on behalf of the property consultants Canbury Group Ltd, the transaction represents the largest regional PBSA asset to trade since 2017.

The large PBSA scheme comprises 915 student beds made up of a mix of 430 studios and twodios alongside 465 en-suite rooms.

Rupert Strutt, one of the partners in Knight Frank's student property team, commented on the transaction: "Canterbury is one of the most underrepresented markets in the country for PBSA. The city has a yearly influx of almost 32,000 students, yet 65% are unable to access university or private-sector accommodation. With PBSA in Canterbury in such high demand, Palamon Court offered a prime investment opportunity of scale and interest was extremely high."

Located half a mile from Canterbury Christchurch University, the scheme boasts a number of amenities for its' students including an onsite gym, study spaces, a cinema room and a private dining area.