Legal & General partners with Homes for Students to enter thriving PBSA market

Legal & General has announced its push into the Purpose-Built Student Accommodation (PBSA) market through a strategic partnership with Homes for Students.

The UK’s leading independent PBSA provider Homes for Students were delighted to welcome two properties to their premium Prestige Student Living portfolio in the spring, managed on behalf of leading financial services provider Legal & General. 

Clifford House, Exeter and Scotway House, Glasgow herald the dawn of significant investment in direct let student accommodation across the UK in a number of key university cities and towns by Legal & General, which recognises the strength in the PBSA market. Together, Legal & General and Homes for Students have embarked on a collaboration set to make a long-standing positive impact on residents’ welfare, the sector and the wider community. 

Scott Lewis, Chief Operating Officer on behalf of Homes for Students, said:

“We are excited to partner with Legal & General and work collaboratively with their team to ensure their values of building a stronger, more positive society, and making a genuine impact alongside their exceptional standards are embedded not only within their properties that we manage on their behalf, but into our wider business too.”

Situated in the ancient and culturally significant city of Exeter, Clifford House boasts vibrant games, fitness and dining areas, an impressive cinema room and communal garden space. Less than a mile away from the University of Exeter, the almost 400 students living here can look forward to a year-round activity programme hosted by the Prestige Student Living team designed to support wellbeing, encourage friendships and aid study. 

In huge demand, Glasgow has affirmed its position as one of the top places to live and study in the UK. Scotway House will welcome 320 students this summer to enjoy the state-of-the-art gym, private study and dining spaces, plus a rare rooftop terrace from which to take in the world-famous Glaswegian backdrop and views across the River Clyde. 

Scott added:

“Expanding into a new territory, it was critical for the Legal & General team to work with a provider who could offer robust systems and a scalable procedural compliance framework. Together with Prestige Student Living, in Clifford House and Scotway House, Legal & General will offer safe, secure and fun places to live and study; places memories and connections are made to last a lifetime.

“It’s been a genuine pleasure to work alongside Legal & General to bring these two new exciting properties across to Homes for Students and the Prestige Student Living platform. Our award-winning track record means residents can look forward to an engaging wellbeing programme in top quality surroundings. We pride ourselves on offering the very best home away from home experience, all delivered by our expert local teams.”

Adam Burney, Senior Fund Manager and Head of Annuity BTR & PBSA on behalf of Legal & General, said:

“The UK boasts many of the finest universities in the world, producing global leading research and continues to attract both domestic & international talent. The higher education sector remains vital to the long-term prosperity of the UK economy and well managed, cost effective modern purpose-built accommodation is an essential part of a first-class education experience. This broadens our existing investment strategies into commercial real estate, infrastructure and housing, with PBSA further increasing our backing for the UK economy.

“We were impressed by Homes for Student’s unwavering commitment to student welfare, ESG and extensive colleague training and engagement programmes, which are aligned with our own strategic goals. Retaining the personal touch, whilst maintaining world-class facilities and systems are key to our partnerships future success.”

For more info on Homes For Students click here.

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