Edinburgh

Goods Corner is situated in the heart of Edinburgh's vibrant student life. Offering charming and comfortable student accommodation within a community-focused living experience. The property is conveniently located near the university, dining, shopping and nightlife.

Investment Summary

Freehold

The property is freehold in title.

Unit Mix

108 bed spaces, comprising 98% studios and 2% two-bed apartments.

Amenities

Lounge space, communal gardens and cycle storage.

Location

Convenient access to The University of Edinburgh, Kings Buildings Campus.

Property Description

Goods Corner was built in 2018. The asset provides 106 studio beds and 2 two-bed apartments. Amenities include lounge space, communal gardens and cycle storage. The property is arranged as three blocks over lower ground, ground first and second floors. Two blocks are new build and one extends to the rear of the refurbished cottages. There is a large provision of cycle storage in the secure courtyard.

Hear from Jennifer

“The onsite team are always happy

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or need assistance.”

Reversionary
Potential

A variety of value-add opportunities have been identified and can be undertaken at Goods Corner to drive rental reversion and asset performance: 

- The installation of solar panels on the roof to bring a 10% reduction in energy costs.

- Communal area to have a complete redesign and include purpose-built study areas.

- Communal gardens and external areas to have additional furniture and leisure areas, to include pods for study or chill time. 

- The above initiatives would result in forecast additional rental increases across all rooms, with further increases across the higher category rooms. 

A full Homes for Students reversionary operational forecast can be found in the data room.

Interior of study

Market Commentary

Supply

Student accommodation across the Scottish capital is weighted towards university provision with a total of c.12,000 beds alongside just over 6,000 private bed spaces, totalling c18,000 beds.

Pipeline

Notable projects in the Edinburgh pipeline include the Baltic Street development by HUB, expected to deliver 632 beds by 2027 and the New Market Road project, which will add 406 beds by 2025​​.

Demand

Edinburgh is home to approximately 64,255 full-time students, creating a high demand for student accommodation. The current PBSA provisions are not sufficient to meet this demand, resulting in a significant percentage of students unable to access PBSA. Specifically, with Edinburgh's PBSA supply at around c18,000 beds, about 69% of students lack access to dedicated student accommodation​​.

64,255

Total Students

46,175

Domestic Students

18,050

International Students

Universities

Edinburgh is home to several prestigious universities, including the University of Edinburgh, Heriot-Watt University and Edinburgh Napier University, each known for their academic excellence and diverse range of programmes. The University of Edinburgh, one of the world's top-ranked institutions, excels in research and innovation across various disciplines. Heriot-Watt University is renowned for its strong focus on science, engineering and business, creating a practical approach to education. Edinburgh Napier University offers a vibrant and industry-oriented learning environment, emphasising employability and real-world skills.

The lifestyle of
Edinburgh

Edinburgh offers a vibrant and dynamic lifestyle for students, blending rich historical heritage with modern amenities. The city boasts a lively cultural scene, with numerous festivals, theatres and museums providing endless entertainment and learning opportunities. Students can enjoy a variety of cafes, restaurants and nightlife options, catering to diverse tastes and preferences. Additionally, the city's beautiful parks and proximity to scenic landscapes offer perfect spots for relaxation and outdoor activities.

Eating and Drinking

Boasting an array of outstanding and award-winning restaurants, cafes and bars, eating out in Edinburgh is a culinary delight offering a wide and diverse mix of places to eat and drink which will appeal to all tastes and budgets. There are Chinese buffets and Spanish tapas restaurants and plenty of good old fashioned British chip shops. You’ll also find a wide range of cafes, bakeries and coffee shops that dot the streets. For other culinary treats, visit one of the weekly markets for the best natural produce the country can offer, from specialty meats and fish to organic veggies and freshly baked artisan bread.

Nightlife and Entertainment

The nightclub scene is vibrant, with venues hosting a combination of regular clubs and one-nighters by international DJs. Edinburgh is also a regular stopping point on tours for both major and upcoming artists and has a lively local music scene. You can catch gigs at tiny, old school venues dotted throughout the city, enjoy a symphony at one of the city's larger concert halls, or experience big name artists at concerts held in Princes Street Gardens and Edinburgh Castle at certain times of the year.

Culture and Heritage

Edinburgh's dynamic cultural scene boasts the largest collection of historic buildings, museums, art galleries and theatres of any city in Scotland. With its stunning Georgian and Victorian architecture and winding medieval streets, it’s easy to see why Edinburgh has been listed as a UNESCO World Heritage Site. Edinburgh Castle dominates the skyline and is the best-known and most visited of our historic buildings. Some of Scotland’s most important national galleries are situated within a short stroll of the city centre. There are also plenty of locally run museums and galleries dotted around the capital.

Staying Active

Edinburgh is an unusually green place, with public parks and green spaces scattered throughout the capital. Princes Street Gardens, right in the centre of the city, is the perfect place to take a break from shopping, sit back and admire the castle. With its annual marathon festival, it's no surprise that Edinburgh has a large population of runners. For the adventurous, there’s plenty to keep your blood racing. Just outside the city, the Edinburgh International Climbing Arena is a repurposed quarry that houses the largest indoor climbing arena in the world. Wakeboarding, water skiing and artificial ski slopes are just a few of the things that are also available year-round.

Distance & travel times

By Bus
6 min
3 min
5 min
By Bus
75 min
35 min
45 min
By Bus
60 min
40 min
45 min
By Bus
40 min
25 min
25 min

Accommodation Schedule

Premium 2 Bed Apartment
2
Single Studio
6
Standard Studio
13
Standard Studio Plus
13
Classic Studio
22
Classic Studio Plus
43
Premium Studio
1
Deluxe Studio
1
Deluxe Accessible Studio
7

AY 24/25 Income summary and projected NOI

£1,396,941

Gross Operating Income
(Assumes 98% Occupancy)

£333,029

Operational Expenditure

£1,063,912

Net Operating Income

Rental Comparables

Studio Club
£280
51
Studio Classic
£280
51
Studio Premium
£285
51
Studio Deluxe
£310
51
Studio Luxury
£375
51
Studio Superior
£420
51
Bronze Studio
£330
51
Silver Studio
£360
51
Gold Studio
£360
51
Platinum Studio
£375
51
Deluxe Studio
£395
51
Superior Studio
£415
51
Super Plus Studio
£425
51
Studio
£305
51
Large Studio
£340
51
XL Studio
£380
51
Large Studio
£405
51

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