A UK purpose built student accommodation (PBSA) provider has been launched under a new consumer brand – Student Roost.
The Birmingham business has an asset value of £1 billion after buying PBSA properties for four years under the Rose Student Real Estate investment vehicle.
Student Roost is home to over 11,000 students in 12 university towns, with an operating portfolio of 28 properties across the UK. Its development pipeline of a further seven sites, with 4,000 new beds, puts it on target to become the UK’s fourth biggest PBSA provider within three years.
Chief Executive Tim Butler held main board directorships at GL Hearn and The Unite Group, and has over 20 years’ experience in the PBSA sector.
Tim said, “A number of small developers switched primarily from residential development to become student housing developers through the recession; their schemes were either acquired by the larger student housing companies or operated by third-party management providers. This created a unique opportunity for us to consolidate a portfolio of high-quality student housing assets through acquisition.
Chief Operating Officer Nathan Goddard, added, “The Student Roost brand will provide an affordable home-away-from-home with an emphasis on student wellbeing.
“Our focus is on retaining our residents throughout their university life. The perfect scenario is having customers recommend our properties to others.”