Pure Student Living, a London focused student accommodation brand established by global alternative asset manager, The Carlyle Group (“Carlyle”) in association with Generation Estates Limited (“GEL”), has announced, the practical completion of its first property, the 400 bed Pure Highbury, located in Finsbury Park, North London.
Pure Highbury has been completed in time for the UCAS University clearing process and will be open to students for the 2012/13 academic year. The 400 bed private residential hall is located just two minutes from Finsbury Park underground station and within 20 minutes journey time of 18 London universities. Pure Student Living offers students the choice of either study-bed or studio type en-suite rooms and uses a simple all-inclusive pricing structure which provides competitive, value for money packages that include 10Mb internet provision, all utility bills, a 24-hour gym and fitness centre and contents insurance, as well as 24-hour security and dedicated maintenance and housekeeping teams run by a residence manager, all for between £215 and £255 per week.
Carlyle entered the UK student housing market in 2010. In addition to Pure Highbury, Pure Student Living has three further residences which are due to be delivered during 2013 and 2014, adding circa 1,800 beds to London’s private student housing market. These will be Pure Hammersmith, located at the former Hammersmith Palais concert venue, Pure Bankside, on Ewer Street in Southwark, and Pure City, on Goswell Road in Islington.
Carlyle, which established a joint venture with City Living in the Netherlands in October 2009, believes there is a strong supply/demand imbalance in the student living sector and in London particularly, where there are over 260,000 students, with only enough purpose built accommodation for around 16% of these. London also has the highest number of overseas students, at over 90,000 full-time and a demographic which highly favours purpose built secure accommodation.
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