Riverside Capital has had a successful marketing season for the 2021/22 academic year, with our Student Housing Portfolio having now achieved a fully let status across Liverpool, Newcastle and Cardiff.
Liverpool was our first location to achieve a fully let status, and we continue to be confident about the prospects of rental growth in this city. The best performing house, 27 Lidderdale Road, achieved £127pppw inclusive of bills over a 13-month tenancy, equating to £52,832 of gross income, while the highest rent last year was £125.71 inclusive.
The Newcastle apartments were well received after the refurbishment undertaken throughout the Portland Terrace property. We also expect to see a significant rental uplift at Richmond Halls in Cardiff, our most recent purchase, post-refurbishment.
We are due to exchange imminently on our second purchase in Cardiff, 11 Llanbleddian Gardens, which is also fully let.