_UK student accommodation: a Q&A with our Knight Frank expert
Merelina joined the Knight Frank Student Property team in 2010. She has worked across all disciplines within the team and has widespread experience in the transactional, development and valuation sides of the student sector. She is currently recognised as one the leading agents in this field.
What trends are you currently seeing in the student property sector?
At the moment, we’re seeing continued strong rental growth across all UK markets, driven in part by an increase in demand from students in cities and towns across the country. When it comes to finding a place to live, students are actively choosing purpose-built student accommodation in favour of more traditional HMO (House in Multiple Occupation) options which lack on-site amenities and the chance for students to become part of a community in a safe, secure and well-managed scheme.
Cost of living is a growing concern – what is Knight Frank’s Student Property team doing to make accommodation more affordable for students?
Helping students save on energy costs is very important to us. ESG credentials have always been high on the agenda for us as a team, for our business, and for the sector. We're seeing the designs being drawn up for our first BREAAM Outstanding building (located in the East of England), which is something we're wholly supportive of – and we know that students will be excited to live in it thanks to its impressive green credentials and the savings that come with this.
Are there any exciting projects that your team is working on, or has in the pipeline?
As a team, we continue to be involved in groundbreaking and award-winning, best-in-class developments across the UK. Recent examples include Scape Canada Water (spacious en suite apartments providing quick access to King's College, Goldsmith's and London South Bank Uni) and True Birmingham, with its all-inclusive bills, free fitness classes, Superfast WiFi, sky lounges and mental health support. These schemes continue to break the mould in terms of what students expect their accommodation to be – there are no limits on what's being designed at the moment, so expect the unexpected!
What do you enjoy most about working in this market?
We're constantly adapting. The sector is always fast-paced and forward-thinking as we're housing the next generation, which is exciting. Each generation has a different outlook from the generation before, in terms of their university experience and what they hope to get from it; it's no longer about simply getting a degree – students want to fully immerse themselves in the city and its cultures and form a strong community.
Merelina Sykes
Read more about student property in The View, our new publication exploring the people, places and properties shaping our world.