Leeds’ latest and most exclusive student development is welcoming its first occupants as students return to the city.
Trinity Halls, which comprises 93 luxury new-build apartments in a gated development in the popular Woodhouse area, achieved 100% lettings in advance of its opening.
The development highlights the demand for higher quality housing from the student population, and the strong interest in student accommodation amongst private investors. All of the apartments were sold at least six months in advance of completion, with buyers including parents of students planning to attend Leeds University as well as overseas investors from the regions such as the Middle East and Africa.
Matt Lavin of Benoit Properties, the agent which completed sales on Trinity Halls, said: “The quality and size of accommodation sets Trinity Halls apart, so it is no surprise to us that it has been fully let at the rental rates we anticipated. We had families visit with students who said it was the biggest they had seen.”
The first project by Trinity Developments, Trinity Halls offers apartments ranging from 21 sq m to 43 sq m and features full kitchens with separate appliances and worktops, rather than the single unit installations used in typical student developments. Occupants also benefit from a gym, social room, laundry and barbecue area.
Matt Lavin said UK student accommodation was in strong demand from overseas buy-to-let investors, with Leeds being a key location. “With the recent economic uncertainty surrounding Brexit and the fall in the value of sterling, student accommodation presents arguably one of the safest places to invest capital for long term income and wealth preservation.
“As a key northern city with a redbrick university, a large international student population and a shortage of purpose-built accommodation, Leeds is one of the most attractive university cities to invest.”