Major Exeter PBSA & Co-Living development opportunity with a GDV in excess of £145m hits market

Situated on a prominent brownfield site directly opposite the University of Exeter's St Luke's Campus and adjacent to the Heavitree Royal Devon and Exeter Hospital, the proposed scheme occupies a strategic position within one of the city's key education, healthcare and employment hubs.  

The consented development comprises seven blocks ranging from five to six storeys and once built, will deliver 399 PBSA and 414 co-living studios. The low-rise nature crucially means the scheme is not subject to the Building Safety Regulator’s Gateway process.  

The freehold opportunity is being offered on a flexible basis, with proposals invited for an outright acquisition, joint venture, or the purchase of either the PBSA or co-living element independently.   

Ben Duke, Associate in Knight Frank's Student Property team, said: "Large-scale, consented sites that are low-rise in nature are becoming increasingly rare and in high demand, particularly in an environment where elevated construction costs and building safety regulations continue to constrain new supply.”   

“St Luke's Court & Quad also offers a unique and strategic location directly opposite the University of Exeter's St Luke’s Campus and adjacency to the Heavitree Royal Devon and Exeter Hospital.”  

According to Knight Frank, the University of Exeter has approximately 23,855 full-time students (specific to the Exeter Local Authority only), while there are only around 11,925 purpose-built student accommodation beds available across the city.   

Knight Frank estimates that more than 11,000 private rented sector sharers in Exeter lack access to purpose-built co-living accommodation, highlighting a significant supply gap across both living-sector markets.  

ENDS