Crosslane - Their two current buildings in Lancaster andDundee provide over 624 beds with more in the planning.The fund management team at Crosslane have over 30 years'of combined experience in the development, acquisition,management and sale of purpose-built studentaccommodation assets.
St Regent Fund - Sciennesin Edinburgh,alongside furtherpurchases in Glasgow and Manchester, has over 270 bedsin prime locations regarded as key sites to benefit fromfuture demand. Substantial rent increases andrefurbishment with increasing capital values are alsoprojected. This holding has enhanced our exposure to
both Scottish and Russell Group universities.
University Capital Trust - Established in Guernsey in 2005,UCT currently has over 1450 beds in London, Newcastle,Nottingham, Lincoln and Sheffield – locations are selected toprovide both secure income and an opportunity for rentalgrowth.
Amro Kingston - Greencoat House will provide the portfoliowith the benefits of a 3 year rental underwrite, increasing ourexposure to London in line with our stated objectives.Kingston was regarded by Knight Frank as an excellentinvestment location in their recent independent study. Thisproperty is well-located both for its own and other Londonuniversities, within a short mainline rail journey, and is heldthrough our partnership with Amro Real Estate Partners.Additional investment which has allowed the Partnership toacquire an interest in an additional property at Penrhyn Road,Kingston, has been made.
UNITE Student Accommodation Fund - Launched in 2006,the USAF currently has over 21,826 beds in 60 properties in20 locations. The UK's largest student accommodationprovider, in its various sole and joint ventures, in total Unitehas over 40,000 bed spaces nationally in 23 leading universitytowns.
Nido - Our cornerstone investment into three Blackstone /Nido investments in London’s Notting Hill, Kings Cross andSpitalfields, provides exposure to 2,523 rooms. Thesehigh-end, London Zones 1 and 2 units, are considered byanalysts to be at the lower end of the risk spectrum in thissector. The portfolio is over 96% let and provides top-endaccommodation specifically designed for the flourishingoverseas student population in London. Additionalinvestment has been made into this holding.
Student Development Ltd Partnership - operated byVictoria Hall - Purchased in partnership with award-winningstudent accommodation providers, Victoria Hall, thisinvestment fits with our objective of targeting specificcentres of supply/demand imbalance with quality,well-positioned housing. We have invested in two schemesthrough the Student Development Ltd Partnership -operated by Victoria Hall, namely in the Russell Group city ofBirmingham and nearby Coventry, jointly providing exposureto 839 beds.
Cordea Savills Student Halls Fund - Since 2006, this fundhas been a market and sector specialist fund for institutionalinvestors providing secure income and growthopportunities. A closed-ended Jersey fund holding a mix oflong leases and directly-let student halls, Cordea Savills hasten accommodation buildings in Leeds, Bristol,Loughborough, Bradford and Edinburgh.
Watkin Jones & Sons - Operating its student housingschemes under the brand name “Fresh Student Living”(Fresh), Watkins Jones provides 10 student housing hallspredominantly on schemes that have been constructed bythem and then sold on to a third party. Fresh is currently over98% occupied throughout their schemes giving them one ofthe highest average occupancy levels amongst all operatorsthis year. Coral’s investment with them is structured as afixed coupon return over the next 12 months and backed byasset security with an additional corporate guarantee fromWatkins Jones.
Plans for GBP612 million Lincolnshire Lakes development submitted
Set within a beautifully created landscape of trees and water, the Lucent Group’s ?612 million development has been designed to promote village life and will include a new primary school, a youth centre, community centre, and an integrated health centre.
The Lucent Group’s submission will be reviewed by North Lincolnshire Council officials before it is publicly consulted on. Lucent is committed to working with the members and officers of North Lincolnshire Council, to ensure the best possible outcomes for the people of the region.
The formal consultation on the planning application by the council is expected to begin in late August and to last for three weeks. Construction is expected to begin in 2014.
The key proposals
- New villages - Up to 3,500 new units in two villages on the Lucent landholding.
- Commercial park - Delivering a wide range of jobs and opportunities for businesses, and offering new leisure and commercial activities.
- Local amenities - The scheme will include a new primary school, formal and informal areas of play, local centres with community space and public spaces as a focus for village life.
- An attractive landscape with a network of open spaces and water - Integral to our plans is the provision of a high quality landscape setting. This includes opening up access to the surrounding landscape which shall be improved with new lakes and wildlife habitats. The setting of new housing and the Commercial Park will benefit from a range of landscape features which will give the area a distinct identity and a range of recreational pursuits.
- New primary school - A new school will be delivered to meet the needs of families moving to Lincolnshire Lakes. The school will benefit from an attractive setting with safe and pleasant walking and cycling routes to the villages.
- Flood defences - Significant improvements to existing flood defences which will protect future residents and benefit existing residents living adjacent to the River Trent.
- De-trunked M181 - A new terminating junction for the M181 will be delivered to the north of Brumby Common Lane, allowing access to the development land east and west of the junction.
- New access to Scotter Road - Proposals will benefit from new connections to Scotter Road, providing access to the villages from Scunthorpe and giving an alternative route for traffic heading towards the M180 via the M181 which will relieve the existing road network in Scunthorpe.
- Wider highways improvements - Off-site highway works and improvements will be funded such as upgrades to Scotter Road and Burringham Road. (Not shown on the masterplan map above.)
Investments in property and unregulated collective investment schemes are not risk free. Rental income is not guaranteed, property
prices may fall as well as rise and your attention is drawn to the Risk Warnings and to the fact that valuations will depend on the specificmethodology used as set out in the Scheme Particulars. Illiquidity means you run the risk of not being able to cash in your investment aseasily as with other financial instruments and you may not get back the amount originally invested. Fluctuations in markets and changes inexchange rates between currencies may cause the value of investments in the MSAF and its Feeder Cells to go up or down. Please rememberthat past performance is not an indicator of future performance.