20 April 2018 – Eje Prime
The Student Hotel has doubled its presence in Barcelona. The Dutch company has invested €10 million in the remodelling of its new student hall of residence in the Catalan capital. The asset, located in the Pobleneu neighbourhood, will be called TSH Campus Marina and will have a surface area of 21,200 m2, which will be able to accommodate around 500 students.
With this new building, the group is debuting the TSH Campus brand, which is going to specialise in accommodation for undergraduate and post-graduate students. In addition to the 500 bedrooms, the complex will also contain 50 kitchens, four swimming pools, study rooms and a laundry, as well as a restaurant (La Forastera), which will be managed by Grupo Raval, according to explanations provided by the company.
The company, owned by Charlie McGregor and the funds Aermont Capital and APG, arrived in Spain in 2015 with the purchase of two halls of residence in Barcelona from the Melon District group. Like in the case of the hall of residence in Poblenou, the company’s first property in the Catalan capital, located in Poble Sec, was also subjected to a complete renovation.
Plans for the future: €240 million of investment and an opening in Madrid
One of The Student Hotel’s next steps in Spain is going to be the opening of its first hall of residence in Madrid in 2019. That purchase forms part of a €240 million investment plan that the company led by McGregor is going to carry out in the country, where it plans to open up around ten properties for students.
The objective of the company is to find opportunities in Bilbao, Sevilla, Santander and Granada, amongst other cities, to continue growing its domestic portfolio and for Spain to become its second reference market, behind only Italy, where it expects to have thirteen halls of residence. In total, The Student Hotel is going to invest €1.6 billion to accumulate forty establishments across Europe by 2021.
Original story: Eje Prime
Translation: Carmel Drake
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Source:: AURA Real Estate Experts