Q3 Introduction
Q3 Student Accommodation, minutes from the Manchester campus & has terrific facilities.
Investment Backdrop
With more than a third of 18 year olds now going into higher education, compared with one in seven in 1980, the government continues to pursue its target of 50 percent by 2010.
Students are increasingly discerning in their choice of accommodation and evidence has shown they are prepared to pay higher rents for quality accommodation, with a growing proportion moving from traditional private accommodation to purpose-built apartment schemes.
The student rental market remains robust with sector commentators suggesting it acts as an excellent hedge against economic uncertainty, with an increasing number of young adults deferring entry into the job market and furthering their education or training.
The University of Manchester Accommodation Office reports that first year students are increasingly favouring purpose-built accommodation and that such schemes are the first to let.
In Manchester, it is estimated that the purpose built accommodation represents only 20% of the total available private sector stock.
Given the economic fundamentals of the student accommodation market coupled with Manchester’s continuing imbalance in supply and demand for modern student apartments, the developers of Q3 are accordingly confident of letting the scheme.
