Plans have been revealed as Experience Invest recently announced the launch of Opto Student Cardiff, a purpose-built student accommodation (PBSA) complex that’s set to be constructed in the heart of Cardiff.
Building work on the complex is scheduled to begin early next year, with Opto Property Group taking control of the construction. The purpose-built student accommodation will contain 728 studio rooms.
The Opto Student Cardiff complex will include communal facilities such as a number of on-site gyms, outdoor basketball and tennis courts, a library, sky gardens, a wellness salon and spa treatment room, as well as communal courtyards.
Completion of the new development is estimated to be in Autumn 2021, just in time for the start of the academic year in September. Once the build is completed, the leasing and management of each individual purpose-built apartment will be handled by Opto Student Living.
Experience Invest are currently offering the studio rooms as off-plan investments, with self-contained apartments starting from £82,750. Investors will receive 7.5% NET p.a. assured returns for three years when purchasing an apartment, and each apartment will be delivered fully furnished upon completion.
Figures show that there are approximately 42,000 university students in Cardiff, with almost 20% of all students in Wales choosing to come from overseas to continue their education. This new purpose-built student accommodation development aims to cater for the growing demand within the Welsh capital for modern and high-quality accommodation, particularly among international students.
Opto Student Cardiff is to be the fifth purpose-built student accommodation project that Opto Property Development and Experience Invest will have worked together on, following projects that included the construction of modern student accommodation developments in Luton and Newcastle.
Jerald Solis, Experience Invest’s Business Development and Acquisitions Director, has said that Experience Invest has been working closely with Opto Property Group as they look to deliver student accommodation that will effectively cater to the changing needs of the modern student. This is their fifth venture with the development of Opto Student Cardiff.
Solis highlights that this is a great opportunity for investors in the Welsh capital as purpose-built student accommodation has become a highly popular investment choice for those seeking discounted off-plan property purchases, with the added bonus of assured long-term returns.
Solis finishes by saying that as the student population in Cardiff continues to grow, so does the demand for suitable student accommodation. Projects like Opto Student Cardiff aims to ensure that investors are able to benefit from the advantages of a fully managed rental investment, while also enjoying the prospective of significant capital growth.
Are you a student in Cardiff or an investor looking for the ideal investment opportunity? If so, our expert team here at CPS Homes are on-hand to offer you advice and guidance. Don’t hesitate to contact us today by calling 02920 668585, e-mailing email@example.com or by popping into one of our three Cardiff branches.