NEW FIVE STAR STUDENT APARTMENTS IN LENTON
Take A Look Inside Five Star Luxury Student Apartments in Lenton - Complete With Cinema Room
... and emperor sized LED TV beds
Cinema rooms and emperor sized LED TV beds. It's unlikely that these are your memories of life in student accommodation but it's what some lucky scholars could experience from January.
In what lettings firm, Student Housing is calling its most luxurious student accommodation to date, five apartments are being created in Lenton Boulevard in a £100,000 project.
And the rentals here are anticipated to be "50% more expensive than the average room in a shared house.
Harry Conti, 26, director of Student Housing says that each apartment will be uniquely decorated and finished to standards found in five-star hotels.
He said: "The apartments in 141 Lenton Boulevard are being given our Luxe treatment, which means each one will benefit from professional interior design and the highest possible standard of finish. The design, decor and features of each property will be unique. The flooring, furniture, lighting and facilities will be incredible and will appeal to students wanting to live in luxury while at university.
"They will all have en suites and an array of touches that you'd expect to find only in the best hotels, such as cinema rooms, emperor sized LED TV beds, designer kitchens and furniture."
Student Housing acquired the properties in September on behalf of a property investment company and will let and manage the Luxe apartments once the improvement programme is completed in January.
But this all comes at a price and rental figures, although not firmly set yet "will command a significant rental premium".
Harry said: "We'll be charging around £195 - £285 per week inclusive of bills, which is perfect for couples."
The standard of Nottingham's student accommodation is certainly improving and there are some amazing 'digs' to be had but how far could and should the luxury end of the market go?
"Nationally we've seen a trend towards higher end accommodation," says Harry. "Students pay higher rents than any other type of tenant and as such (rightly so) have higher demands and expectations of both their accommodation and management. For example, within student accommodation our maintenance team will attend to replace light bulbs, unblock sinks and other minor jobs which many tenants would normally assume they have to resolve themselves."
Student Housing opened its Ilkeston Road, Nottingham office in May this year, this is the firm's second office.
Harry and his business partner Marcus Askam Yates, 28, started Student Housing in Lincoln in 2015. They left the University of Lincoln before the end of their degree courses to start the business after, they say, becoming frustrated with the low-quality accommodation that was on offer to students.
The business has grown quickly and now employs 15 people in Lincoln, who let and manage over 500 properties to more than 1,200 students.
Harry said: "We've identified a lack of supply of premium accommodation, Nottingham in many ways is behind national trends, with many landlord opting to exclude bills where we see national trends doing the opposite. In terms of Luxury we've identified a large under supply of this type of accommodation and have partnered with investors to provide a further investment of £2.3m into similar schemes.
"No one else in Nottingham is offering accommodation like this.
"We undertook a lot of research before opening in Nottingham. Based on the findings, we were confident that our commitment to only marketing the very best properties on an 'all bills included' basis would prove popular with both students and landlords. I think, based on our first six months of being in Nottingham, we were right to be optimistic!
He added: "We know from our experience in Lincoln that there is a market for premium accommodation. There is a long waiting list for our Luxe properties in Lincoln, where we have an office, and those properties are always the first to be let. We expect it to be the same in Nottingham."
[Karen Antcliff, Property Editor, Nottingham Post Sunday 24 November 2019]
Various people have made comments about this development in Lenton. Three which have been passed on to the NAG are enlightening. One comment points out that the rents this lettings agent is charging are very high, even in comparison to purpose built student accommodation (PBSA). As long as there is an accommodation shortage, they will do well. ... [NB: However, when/if that market changes Mr. Conti and Mr. Yates may well find themselves having reassess their situation.]
A comment on a similar development in another studentified neighbourhood in Nottingham points out that the students there 'feel very entitled!!'
Which is echoed by a third comment: The rental stream suggests that it will attract those that are most likely to be a problem. A curfew would be good.
Comments placed on the Nottingham Post's website also make interesting and pertinent observations, viz.
FlameyHelmet: greedy money grabbing ********. what about the families and young people unable to get anywhere to live, student accommodation planning permission should only be granted if the developer provides the same amount of affordable property for the public as they do for students.
TailorCaden: 5 star luxury apartments STUDENT apartments yet we have so many people living in the equilivant of modern day slums or homeless
The Truth: What about homeless talk about rubbing it in that only students get the best of the best just because greedy landlords want money
VanDyke: It’s just brainless PR fluff, Truth. Don’t think the developers realise that flogging this kind of self-indulgent nonsense in Lenton is rubbing it in people’s faces.
VanDyke: International students might be willing to pay rents which are around twice the average, but those sums just don’t add up for UK students. Never mind the LED TV, what about the debt?