Leamington Spa
The Union is situated in the heart of Leamington Spa'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
Unit Mix
Amenities
Location
Property Description
The Union was built in 2017. The asset provides 187 bed spaces arranged as 157 ensuite cluster bedrooms and 30 studios. Amenities include communal lounges, cycle storage and laundry facilities. The property comprises two buildings interlinked with an enclosed walkway at ground level.
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The Union
Leamington Spa
Reversionary
Potential
A variety of value-add opportunities have been identified and can be undertaken at The Union to drive rental reversion and asset performance:
- Part of the car park area could be redesigned to include additional communal and/or amenity space.
- Common room to be reconfigured to include purpose-built study spaces, with a separate lounge/games area.
- If the amenity space was enhanced per the above, Homes for Students expect all rooms types to command an additional c.£10 per week.
- In addition, if cluster kitchens were to have enhancements made to lounge areas, Homes for Students expect the following rental increases per bed: Standard rooms - £5 per week. Canal view rooms - £10 per week.
A full Homes for Students reversionary operational forecast can be found in the data room.

Market Commentary
The Leamington Spa market primarily serves the University of Warwick. There are currently 10,617 PBSA beds across the Warwick PBSA market.

The development pipeline for Warwick includes notable projects such as the Torwood Close scheme by McLaren, which is expected to deliver 1,073 beds by 2026.
The University of Warwick is home to 29,534 students, meaning 64% of students cannot access PBSA.
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Total Students
Domestic Students
International Students
Universities
The lifestyle of
Leamington Spa
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