800 Bristol Road, Birmingham
In April 2015 Maven entered an agreement with a Singapore-based Investment Fund to act as the asset manager on a £10 million development in the Selly Oak area of Birmingham. The Bristol Road site had planning consent for a purpose-built student accommodation development which included 100 new studio apartments and 6,662 sq ft of ground-floor retail space. The new-build property was completed in time for occupation by students for the start of the 2016/17 academic year.
Birmingham ranks amongst the top areas in the UK experiencing a chronic undersupply of purpose-built student accommodation. With occupational demand now on a firm upward trajectory and an increasing number of overseas students coming to the UK to study, the student accommodation sector is producing positive rental growth and has demonstrated its resilience throughout the economic downturn.
800 Bristol Road was sold in August 2018 for £14.6 million to the Malaysian pension fund Kumpulan Wang Persaraan Diperbadankan (KWAP).