Riverside Capital has achieved planning permission to make improvements to its student properties in Newcastle.
The permissions will allow for the addition of six bedrooms, bringing the total number of bedrooms across the Newcastle element of the portfolio up to 50.
Such improvements mean that, once let, the additional bedrooms will boost the income from these properties – based on current income levels – by at least 14%.
The student properties, sitting within the upmarket area of Jesmond, have already seen a positive income boost, with a 6.4% uplift in 2019/2020 on the previous academic year.
Riverside Capital’s Student Housing Portfolio also holds a collection of student HMOs in the popular Wavertree area of Liverpool and will be expanding in 2020 to include further properties in Cardiff.