The UK property market has seen a surge in investment in recent years, with many investors looking to capitalise on the lucrative returns that can be achieved. Two of the biggest names in the industry, Puma Property Finance and Vita Group, have recently announced a joint investment of £24 million in a student accommodation scheme in Belfast.
The scheme, which is set to be completed by 2021, will provide high-quality student accommodation for up to 1,000 students. The development will be located close to the city centre and will include a range of amenities such as a gym, cinema room, and study areas.
The project is being funded by Puma Property Finance and Vita Group, who are both experienced in the student accommodation sector. Puma Property Finance is a leading provider of finance solutions for the UK property market, while Vita Group is a specialist in student accommodation investments.
The development is part of a wider trend of increased investment in student accommodation in the UK. According to the latest figures from the British Property Federation, the amount of money invested in student accommodation has increased by more than 50% since 2015. This is due to increasing demand for student accommodation, as well as the attractive returns that can be achieved from such investments.
The new development in Belfast is expected to provide a much-needed boost to the local economy. It will create jobs during the construction phase, as well as providing an additional source of income for local businesses once it is completed.
Overall, the joint investment of £24 million by Puma Property Finance and Vita Group in the student accommodation scheme in Belfast is a welcome addition to the UK property market. It is expected to provide high-quality accommodation for up to 1,000 students, as well as creating jobs and providing an additional source of income for local businesses. This is yet another example of how investors are taking advantage of the lucrative returns that can be achieved from investing in the UK property market.