26 April 2016 | Herpreet Kaur Grewal

National student accommodation management company Homes for Students has been appointed to manage four new schemes totalling 917 beds.

The company was chosen by UK real estate investment manager Lothbury Investment Management Limited on behalf of the Lothbury Property Trust, which owns the accommodation in Aberdeen, St Andrews, Durham and London.

These schemes are being developed by student accommodation developer Alumno.

The four sites are: East Shore Student Halls, a 135-bed scheme in St Andrews, which became operational in 2015; Powis Place, a new 196-bed property in Aberdeen and the Town Hall Camberwell, a 168-bed development in London, which both come on board in 2016; and a new 418-bed scheme at Sheraton Park in Durham, which will become operational next year.

Under the terms of the deal, which is valued at £1.5 million per year once all sites are operational, Homes for Students will provide services including a booking and marketing platform, sales teams, rent collection and financial management, tenancy management, helpdesk and reception, full facilities management, life cycle and asset management and energy management.

Martin Corbett, managing director of Homes for Students, said: “Our fixed-price, long-term expenditure wrap is designed to protect investors’ interests, which combined with our expertise to market and let the accommodation and to manage the property assets professionally, was particularly attractive to Lothbury.”