The evolving dynamics of the UK PBSA market continue to create both challenge and opportunity for lenders and investors, particularly where underwriting assumptions are being tested by changing operational performance.
While the macro story remains important, understanding individual assets, university demand drivers and local market dynamics at a micro level is critical.
Having recently been appointed as Fixed Charge Receivers over the 393-bed Alma Place development in Belfast, many of the themes highlighted by BBC News including the “continued delivery of new supply”, changing student booking patterns and pressure on net operating income are issues we are seeing across a number of UK PBSA markets, not just Belfast.
As the occupier and investor markets become more selective, we are continuing to support banks, debt funds, servicers and equity stakeholders across a range of operational, refinancing and stressed/distressed scenarios throughout the UK.
Further market commentary and insight will be shared via Watling i in the coming weeks: www.watling.com/watling-i. Read more from the bbc here: https://www.bbc.co.uk/news/articles/c05d3zm42dqo
In the meantime, for further discussion, please contact:
