It is interesting to see how the shape of student accommodation is changing in Norwich at the moment.
Those who travel round the inner ring road regularly will have noticed the huge building school currently underway on Barn Road.
Benedict’s Gate will comprise some 302 en suite and studio rooms for students, together with communal kitchens and lounges.
This is Alumno’s third project in Norwich – previous developments have been completed in All Saints Green.
The start of this academic year also saw students take up accommodation in luxury accommodation at Crown Place, above the former BHS unit on St Stephen’s Street.
This development encompasses 705 en suite rooms, as well as an on-site gym, cinema room and games room.
All this new development of purpose-built student blocks is having an impact on those landlords who offer more traditional accommodation.
There will always be young people who prefer to share houses on residential streets, but demand is likely to be affected and landlords are already realising they have to react.
Some are deciding to sell while others are choosing to improve.
This is either with the aim of appealing to a different market – families or young professionals, perhaps – or simply to make their offering more tempting.
They are realising they not only have to upgrade the décor and furnishings of their properties, but perhaps also must consider including features such as WiFi.
Ultimately, it will come down to supply and demand – and to remain in the market, landlords will have to be flexible.
At Norfolk Property Lettings and Management we are always happy to advise our landlords and those considering working with us.
There are good opportunities in Norwich at the moment, but it is important to offer accommodation that trues appeals to the tenants you would like to have.