Riverside’s 242 hotel-class, en-suite bedrooms in Blackfriars Road, Salford, on the banks of the River Irwell, has reached full occupancy’ – and the student sell-out has been achieved in record time.
Karen Preece, Portergate’s managing director, is advising hopeful residents to reserve their place now for both the New Year and September 2016.
She praised the multi-lingual Riverside House team for their hard work and dedication since the development opened its doors.
She said: “The tremendously high standards we set reflect the demands and expectations of today’s students, and in particular their parents, who expect their sons and daughters to live in hotel-class accommodation while they enjoy their higher education.
“I’m proud to say there is nothing quite like Riverside House. The success of the development shows our total commitment to quality in everything we do is paying off.”
The sales success vindicates Portergate’s strategy of providing high-quality boutique accommodation and the welcome it provides for students from across the globe.
Portergate Property Management was one of the first UK student accommodation providers to predict the new market for a higher standard of student living.
And with Riverside House performing so well in the Salford and Manchester market just two years after first opening in September 2013, Portergate is rolling out the concept across the North West.
Building work is moving ahead at its Friargate development in Preston, in the city’s university quarter.
The £18 million transformation of the 1.5 acre site will bring three new retail premises and the creation of a 244 bedroomed building aimed at providing Portergate’s brand of hotel-style accommodation to students at the University of Central Lancashire (UCLan).
Part of that high-quality accommodation on offer is also aimed at post graduate students at the university and apprentices and key workers in Preston’s high-tech manufacturing sector and new Enterprise Zone. The development is scheduled for completion next year.
Meanwhile, Riverside House in Salford continues to win acclaim for the quality of its boutique-style accommodation.
The stylish development is managed 24/7 by Portergate’s professional in-house team delivering security, comfort and peace of mind for students and parents alike.
Portergate chairman Anthony Jackson says the demand at Riverside House highlights the trend among students – and their parents – for quality and comfort. They are attracted by the welcome, security and high standard of accommodation that the stylish development offers.
He said: “The standards we have set in Salford are being replicated in our Friargate plans as our expansion in the North West continues.
“We are committed to creating high-quality boutique accommodation in stylish, contemporary, well-designed buildings.
“As a company we are very passionate about what we do and we are providing new developments that are attractive to students from the UK and overseas and which also add real value to the community.
“That is the secret of our success and it is not only attractive to students and their parents but also to the investors we have from around the world. They can see the value of what we are creating.”
More than 80% of rooms at Riverside House have been sold to investors but there are still 50 units remaining for sale – generating immediate income.
Investors in Riverside Salford get a two-year 6% guaranteed rental income plus a guaranteed ‘Buy Back’ at 5% above purchase price after three years.
For more details of Portergate’s student accommodation portfolio and investment opportunities please visit www.studentaccommodation.properties