Albert Place - Newcastle UK
Albert Place is a freehold purpose-built student accommodation development scheme comprising 134-beds. It has been completed in September 2017 by the Crosslane Group.
The investment is located in Newcastle in the north east of England. Newcastle is a major university city in England and is part of a wider housing market area which extends to include North Tyneside, Gateshead and parts of South Northumberland. Newcastle is known for housing universities such as Newcastle University and Northumbria University. Albert Place is prominently located, 300 meters away from the University of Northumbria City Campus East, 0.3 miles from the main University of Northumbria Campus, and within close proximity to Newcastle University.
The asset is of high development standards with outstanding specification. It comprises stylish and modern ensuite bedrooms in clusters of 4 to 8, each sharing an open plan kitchen, dining, and lounge area. The property comprises 133 cluster bedrooms and 1 studio apartment together with ancillary facilities. A well-resourced gym, a large communal lounge, and a private landscaped courtyard are all located within the scheme.
Management expects Albert Place to generate remarkable income growth opportunities given its prime qualifications and competitive placement in the market.