Student housing has moved from the “alternative” asset class firmly into the mainstream in recent years. Whilst student housing is a high performing and extremely attractive asset, fierce competition for land, coupled with increasing Government regulation in the sector, means that commercial, pragmatic legal advice is more important than ever.
At CMS, we have been helping student housing clients navigate the issues peculiar to this market for over a decade. Whether you are an investor looking for a direct let or leased model, or a University or operator, we can provide advice on funding, acquisition, development, construction, letting, nominations, service level, management and residential tenancy agreements.
We can also provide specialist advice in relation to complex tax considerations (particularly VAT issues in relation to forward funding) and planning (in England there are three different use classes for student accommodation), as well as on joint ventures and income strip structures.
We are at the heart of the debate in relation to regulation and reform in the sector as active members of the BPF’s Student Accommodation Committee. We are also providing input to the SPF’s response documents to the Scottish Government on the financial implications of the Private Housing (Tenancies) (Scotland) Bill and its fitness for purpose in the PBSA sector and the wider PRS.
We are very pleased to act for the top players in the market including: Unite-Students, Curlew Student Trust, Knightsbridge, iQ (Wellcome), Ziggurat, M&G Funds, Bouwfonds European Student Housing Fund, Fresh Student Living, The University of Glasgow and Imperial College.