Mark Adair

Partners Group teams up with Host to create £1bn UK Student accomodation & co-living joint venture

Partners Group, a leading global private markets firm, acting on behalf of its clients, and Host Student Housing Ltd, ‘Host’, a fully integrated developer and operator in the student and living sector and one of the largest providers of student accommodation in the UK, have formed a new £1bn UK student accommodation and co-living joint venture.

Host, in conjunction with Tiger Developments, is part of the O’ Flynn Group of companies which has extensive interests in the property sector in Ireland.

The joint venture is seeded with two Host-owned operational Purpose-Built Student Accommodation (PBSA) assets in Leicester and Colchester, a PBSA development project in Bournemouth and a purpose designed co-living development project in Guildford.

In addition, there is an immediate identified pipeline of over £250m of PBSA developments totalling more than 1,000 beds in the prime Russell Group university markets of Manchester, Bristol, Edinburgh and Birmingham.

Together, Partners Group and Host intend to expand the JV through further developments in the PBSA and co-living sectors, creating a large and market leading portfolio of £1bn GDV (gross-development value).

The JV will look to bring the firms’ combined expertise, experience and financial strength to bear on other UK PBSA and co-living schemes, aimed at meeting the strong and growing demand in the living sector for high quality, sustainable, amenity-rich and professionally managed accommodation with best-in-class service.

Rahul Ghai, managing director, Co-Head Private Real Estate Europe, Partners Group, said, “a return to normality and strong demand fundamentals are making the post-COVID student accommodation sector in the UK an attractive investment opportunity.

“The sector is a key thematic focus for us and benefits from long-term tailwinds, such as favourable population growth trends and rising enrolment rates, as well as the continued strength of the UK’s higher education offering globally. The JV has a robust pipeline, and we look forward to hosting students across some of the most dynamic cities in the country.”

John Nesbitt, managing director at Host, said, “Host is excited to be working in joint venture with Partners Group. We have a shared ambition to build a new portfolio of top quality PBSA and Co-Living projects in the ‘Living’ sector, which offers strong sector fundamentals and growth.”

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