International real estate advisor Savills, on behalf of one of Brookfield Asset Management’s private real estate funds, has completed the sale of Stanley Studios in Southampton to Legal & General Student Living Ltd (a fund managed by L&G’s Asset Management business), for £43 million.
Stanley Studios is a luxury purpose built student accommodation (PBSA) asset comprising 245 beds, including 177 best‑in‑class studio apartments and 68 two bed apartments. Operated by Prestige Student Living and opened for the 2021/22 academic year, the modern scheme offers an extensive range of amenities including a private lounge, study room, library, private dining room, cinema, gym, and games room. Its mix of room types allows the scheme to cater to both premium and domestic market demand, positioning the asset as one of Southampton’s highest quality student accommodation offerings.
Located just north of the city centre and a 13-minute walk from the University of Southampton, Stanley Studios is among the city’s most conveniently located PBSA developments. Southampton Solent University is also only 2 miles from the accommodation.
Alistair Kemp, Director, Savills Operational Capital Markets, says, “We are very pleased to have completed the successful sale of this asset. Southampton’s PBSA development pipeline remains notably limited, contributing to a strong demand profile for high-quality, well-located assets in the city. The transaction reflects the continued appetite for premium student housing and demonstrates that well-designed, well-located schemes continue to perform strongly in the current market.”
Neil Dovey, Head of Annuity Transactions, Real Estate, L&G, adds, “We are delighted to add this asset to our portfolio, bringing our investment in the sector to just under £400m over the past 2 years. We will continue to target those locations with strong property fundamentals where the student population is expected to increase in line with the growth plans of the main Universities in the City”.
