IQSA is among the largest providers of purpose-built student accommodation in the UK, with a portfolio value of £3.5bn as of September 2018 - the … The number of full-time students in the UK has reached a record level. Some landlords' ability to withstand the impact of the pandemic on occupancy is likely to be tested as 2021 progresses, Duncan Garrood, CEO of Empiric Student Property, said in an interview. Sky News has learnt that the owners of iQ Student Accommodation (IQSA) are close to hiring banks to oversee an initial public offering (IPO) in London. Don’t miss out – just download the iQ app as soon as you check-in to your iQ room. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. Blackstone has struck the largest-ever private property deal in the UK by agreeing to acquire the UK student accommodation firm iQ in a £4.7bn deal. Rents for en-suite accommodation have been at 16% above the rate of inflation since 2014, according to a recent report. "There will, S&P Global China Credit Analytics Platform, Differentiated Data to Make Informed Decisions. The pandemic appears to have had a significant impact on occupancy across the sector during the first semester of the 2020/2021 academic year. Our stunning Hawley Crescent studios are smack bang in the middle of Camden, for students who want stylish independent living. If distressed opportunities do arise, there should be more than enough appetite in the market. content. "And if it is going to occur, it may well be around Q1 or Q2 next year.". React News Ltd The Monument Building 11 Monument Street London EC3R 8AF © 2020 Guardian News & Media Limited or its affiliated companies. Blackstone has agreed to buy IQ Student Accommodation from Goldman Sachs for £4.7bn, in the UK’s largest private real estate transaction. Student numbers are at an all-time high and are expected to climb. Goldman Sachs Merchant Banking Division and the Wellcome Trust have completed the sale of iQ Student Accommodation to Blackstone for €5.22 billion ($5.7 billion). Goldman Sachs and Wellcome sell iQ Student Accommodation to Blackstone. Much will depend on what happens at the beginning of 2021. Investor interest in U.K. student accommodation has remained strong in the face of the pandemic. The firm says its rent includes wifi, access to the gym and communal areas, alongside 24-hour security, insurance and utility bills. An en-suite room in Bloomsbury in the centre of the capital costs £460 a week. The firm was formed in 2006 with Wellcome as one of the founding investors, and merged with Goldman Sachs’ student housing business in 2016. iQ Student Accommodation & Londonist partner Accommodation agency Londonist has announced a partnership with housing provider iQ Student Accommodation. "Acquisitions would be lower down our list [of priorities] than other items," he said. High rent bills have led to student rent strikes in the past. Companies own and operate 18% of purpose-built student accommodation currently, while universities account for a further 18% and private rentals make up 42%. Many operators are hoping January will bring the arrival or return of many students who are currently studying remotely, said Russell Hefferan, partner, student accommodation capital markets at real estate services firm Cushman & Wakefield. In the past decade, iQ Student Accommodation has provided accommodation to more than 28,000 students in 67 sites across 27 UK cities. Some smaller, independent student accommodation providers in the U.K. could go bust in 2021 as a consequence of the COVID-19 pandemic, offering opportunities to some larger players, according to industry experts. Nido was sold to the property firm Round Hill Capital six years later. Last modified on Thu 27 Feb 2020 08.03 EST. “With student numbers in the United Kingdom at an all-time high, and growth set to continue in the coming years, there has never been a more exciting time to be a leading player in … Empiric's absence from the market may mean more room for others to establish or extend their footprint in the market, but JLL's Hillman advised investors to temper their expectations of what might be on offer. Among those vulnerable are developers unable to secure funding due to tighter lending criteria are also exposed, said Hillman. Private investment management company Blackstone acquired the accommodation provider in February in a reported £4.7bn deal. 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