Market Monitor Digest (week 34/2024)
It's our pleasure to be your go-to for the week’s key industry news. Thanks to the information collected by the BONARD Market Monitor team, you can now keep your finger on the industry pulse.
Student Housing & Co-Living
UK and Singapore: Far East Orchard establishes £70M private fund for UK student accommodation
By Yong Jun Yuan, August 22, 2024
FAR East Orchard has established its first private fund in Singapore, and completed its first closing of £70 million (S$120.1 million) on Thursday (Aug 22). The company announced that the fund, called the FE UK Student Accommodation Development Fund, will invest in purpose-built student accommodation (PBSA) development opportunities in the United Kingdom. The fund has a target aggregate commitment of £100 million.
UK, Belfast: Elkstone announces plans for 870-bedroom student scheme in Belfast
By Anandita Malhotra, August 20, 2024
With over 85,000 students enrolled across Queen’s University Belfast, Ulster University and Belfast Metropolitan College, the scheme will aim to address the growing demand for student accommodation.
US, Richmond: Pinecrest Delivers 509-Bed Student Housing Development Near VCU in Richmond
Author unknown, August 20, 2024
Pinecrest has delivered Parc View at Commonwealth, a 509-bed student housing development located pedestrian to the Virginia Commonwealth University (VCU) campus in Richmond.
Canada, New Brunswick: Government investing $4M to create more on-campus student housing
Author unknown, August 21, 2024
The provincial government is investing more than $4M to support the creation of more student housing at Mount Allison University.
Belgium, Antwerp: 250 new student rooms coming next to KDG University College in Antwerp South: "Good news because there is a shortage"
By Lisa Ceuppens, August 19, 2024
In the South in Antwerp, there will be 250 new student rooms, right next to the campus of the Karel de Grote Hogeschool.
BTR
Spain: DWS is looking for a buyer for 235 homes for rent in Madrid
By EjePrime, August 21, 2024
The DWS manager, controlled by Deutsche Bank, has put up for sale a package of 235 homes for rent located in the Ensanche de Vallecas, near the "Las Suertes" metro station and 15 minutes from the center of Madrid. Currently, more than two-thirds of these apartments are occupied. According to Expansión, the promotion for sale includes 235 homes with one to three bedrooms. In addition, it has a communal pool, green areas, children's area, both indoor and outdoor gym, and a decoworking space equipped with computer stalls, booths for phone calls and a kitchen.
UK: Wavensmere Homes submits plans for £150M resi-led development
By Anandita Malhotra, August 21, 2024
Birmingham-based urban regeneration specialist Wavensmere Homes has submitted a full planning application to City of Wolverhampton Council for the proposed £150 M residential-led Canalside South development. Canalside South will comprise 60 co-living beds plus 523 additional houses and apartments. The 17.5-acre former industrial site is located within the city centre, nearby the transport interchange, and benefits from frontage onto the Wyrley & Essington Canal and the Wolverhampton Branch of the Birmingham Main Line Canal.
Germany: Fokus Wohnen divests four residential properties for €103M
By Branislav Pekic, August 22, 2024
German real estate fund Fokus Wohnen Deutschland has sold four residential properties in Germany to an institutional investor for € 103M. The properties are located in Braunschweig, Dietzenbach, Hanover, and Dortmund and consist of 318 residential and five commercial units.
Romania: Bellemonde secures €21M from Libra Bank for Bucharest resi project
By Branislav Pekic, August 22, 2024
Romanian real estate developer Bellemonde Development has secured € 21M loan from Libra Internet Bank for a new residential project in northern Bucharest. The project will feature 164 housing units, including a variety of options such as individual houses, duplexes, townhouses, and villas with two, three, and four-bedroom apartments.
Senior Living
France, Fontaine-sur-Somme: Around twenty social housing units will be built in Fontaine-sur-Somme to meet the needs
By Francisco Carrasco, August 23, 2024
Fontaine-sur-Somme will welcome 17 to 19 social housing units from mid-2025 to meet the urgent need for housing for young people and the elderly. Project funded by Baie de Somme Habitat.
Sweden, Tollarp: Kungsvägen retirement home in Tollarp
Author unknown, August 20, 2024
In November, we will open a new retirement home on Kungsvägen in Tollarp. The accommodation replaces Almgården and Lindåsa retirement homes. Kungsvägen's nursing home will have 46 places, 18 of which are dedicated to dementia. Eight cities will form a special department. The new accommodation is located on the land where Almgården used to live.
Netherlands, Milsbeek: The sustainable care complex in Milsbeek offers older people space and independence
By Cas Barendregt, August 22, 2024
Milsbeek has a unique residential care complex that perfectly combines sustainability and care for the elderly on a small scale. Developed by Het Andere Wonen, this project offers the elderly an independent living environment with 24/7 care at their fingertips. The Milsbeek branch consists of 18 clustered residential apartments, 10 of which are social rent and 8 low-medium rent, a shop and a community room.
Netherlands, Geldermalsen: The gas station will make room for 48 rental apartments for beginners and seniors
Author unknown, August 22, 2024
The DJ from Wijkstraat 9-11 and 15 and 15A in Geldermalsen is changing. The site now includes a gas station with outbuildings. This resulted in 48 rental apartments with low to medium rent for one to two person households. Construction is expected to begin in early 2025.
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