Luxury Apartments Lapped Up
Investors snap up sell-out student apartments
A new £17m scheme for luxury student apartments in Exeter has been sold out in just seven weeks.
UK and overseas investors have snapped up all 161 apartments on Longbrook Street, which are part of Vita Student’s Portland House development.
Exeter was chosen as the location due to its academic reputation and increasing student population.
Portland House will be converted into luxury student apartments
The project will be completed for the new student intake in September 2014.
Mark Oakes, Chief Operating Officer of Vita Ventures, said: “Exeter was chosen due to the severe undersupply of suitable accommodation in the city.
“The academic excellence of the university means that the city is very attractive to investors because the student population will continue to grow, further increasing the need for accommodation.”
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