For more than a decade, Platinum Property Partners has understood that there is a burning need for affordable shared accommodation post-university. Platinum Property Partners proudly now own more high-quality HMOs (Houses in Multiple Occupation) than Britain’s largest provider of private student houses.
Kexgill, a Hull-based company that has been operating since 1978, has 900 student HMOs up and down the country compared to Platinum’s 973 professional HMOs, which are all privately owned by our franchise partners and located in 200 towns and cities across England and Wales.
This lack of investment in student HMOs could be down to the fact that not long ago, it was predicted that the rise in the development of modern student tower blocks would lead to the death of the traditional student let. Yet time has proven that second and third year students value the experience of playing house with a group of friends, and this thirst for social living does not end after university.
As a result, Platinum’s premium properties, which are currently worth more than £300 million combined, are specifically design for post-graduates and young professionals who want first-class yet affordable and all-inclusive living.
As an investment, Platinum’s HMOs produce annual returns in excess of 15% and make efficient use of existing housing stock. As a home, they cost 31% less to rent when compared to a one-bedroom flat (excluding bills).
The majority of the 5,800+ rooms in Platinum properties are double en-suites and all properties are fully furnished and benefit from inclusive bills, weekly professional cleaners, high speed internet connection and high specification throughout as standard.
Steve Bolton, Founder and Chairman of Platinum Property Partners, commented: “HMOs have always been one of the best performing buy-to-let models around and for years, they were associated with just student lets. However, there was clearly a demand from post-graduates who liked this way of social and affordable living and who were willing to pay a little extra for quality and service.”
“The Platinum portfolio of HMOs, which is growing by an average of one property a week, fills a huge gap in the market for young professionals and Kexgill is accommodating the growing number of students who now also demand a higher level of quality in their shared houses. So, it’s good news all-round.”
For more information on building your own HMO property portfolio, just get in touch on 01202 652100.