Berkeley First has completed on the sale of one its largest student accommodation schemes outside of London, Liberty Quays in Kent, which was built for the University of Kent students.
The final, second phase of the 1,106 bed development has been completed and the entire scheme sold in the order of £60million to Liberty Living, who will own and operate the accommodation on behalf of the University of Kent.
Berkeley First, the specialist student accommodation division of the FTSE 250 Berkeley Group, partnered with the University of Kent for the development on a nomination agreement basis.
The high specification scheme is divided into 992 single study en-suite bedrooms and 114 studio apartments, and was built over two phases, one comprising 606 student bedrooms and the most recent comprising 500 bedrooms, which has recently been completed.
Liberty Quays has been built to budget and on schedule, and was designed to ensure the accommodation was stylish and centrally located, but yet affordable for students. With rents starting from just £130 per week, which includes bills and personal contents insurance, all of the rooms are now let.
The site is part of Berkeley’s wider regeneration of the 20 acre riverside site Victory Pier, which includes private residential accommodation, a hotel, cafes and restaurants.
Matthew Biddle, Managing Director, Berkeley First, comments: “Liberty Quays is our first student accommodation site in Kent and marks our first partnership with the University of Kent and first collaboration with Liberty Living. The site is in an excellent location, directly beside the River Medway and just a short walk from the campus.
“The design of the accommodation was influenced by feedback from the students, ensuring it was bespoke to their needs, incorporating common rooms, laundry areas, cycle storage and extensive landscaped courtyards. The students also have access to the high end amenities of the surrounding Victory Pier development and make up part of a growing, diverse new community.”
Mike Nelson, Director of Property Services at Liberty Living, comments: “We are extremely proud of our new scheme as well as our partnership with Berkeley First. A huge thanks to all the team for delivering a first class student product.”
The £180 million Victory Pier site comprises over 800 one, two and three bedroom apartments for private sale, a 120 bed hotel, cafés, restaurants, bars, shops and a gym all located on the broad stretch of the River Medway.
http://www.berkeleygroup.co.uk/property-developers/berkeley-first