Blacklight Capital Partners has appointed international real estate advisor Savills to sell its recently completed Limelight purpose-built student accommodation (PBSA) scheme in Liverpool. Offers in excess of £61m – reflecting a net initial yield (NIY) of 5.75% – are being sought.
The brand new Limelight scheme spans 162,654 sq ft and features 535 beds across two blocks. The PBSA consists of 79% clusters and 21% studios. Amenities include a sky lounge with panoramic city views, cinema and karaoke rooms, a fully equipped gym, study zones, social lounges and private gated gardens.
“We are delighted to bring this best in class asset to market. Liverpool continues to attract exceptional applicant demand, with rising domestic and international acceptances outpacing many other regional cities and cementing the city’s position as a leading UK higher education hub.”
Jamie Radcliffe, Associate Director, Savills Operational Capital Markets
The property continues to experience strong demand, with 99% occupancy since fully opening in September 2024. Pre-letting momentum also remains strong, with 76% of beds pre-let for the upcoming 2025/26 academic year. The scheme offers defensive characteristics, with 71% of occupants being domestic.
“Liverpool’s PBSA market presents a compelling investment opportunity, with demand consistently outpacing limited supply and exceptionally few viable schemes progressing through the development pipeline.
“The scheme offers strong defensive characteristics, with 71% of occupants being domestic students. Limelight Liverpool also benefits from a wide variety of room types and price entry points, supported by an extensive range of high-quality amenities designed to enhance the student living experience.
“Limelight Liverpool is perfectly positioned to meet the growing demand, offering investors a rare chance to secure a high-quality, income-generating asset in one of the UK’s most dynamic and resilient student markets.”
Jamie Radcliffe, Associate Director, Savills Operational Capital Markets
Limelight benefits from incorporating sustainable design principles, creating energy efficient accommodation that contributes to reducing carbon emissions from construction through to operational management.
It is equipped with discreetly located solar panels, low energy lighting throughout, a Sustainable Urban Drainage System (SuDS), and a highly insulated building fabric. As a result, it has achieved an EPC rating of B, EWS1 A1 rating, and has achieved a BREEAM rating of Excellent.
Well located in the Knowledge Quarter, the PBSA scheme is a four-minute walk from Liverpool Lime Street station and roughly equidistant between the two largest universities in the city. Liverpool is home to five universities, including the prestigious University of Liverpool. Liverpool has the UK’s tenth largest full time student population, (55,840) with 26,707 students unable to access PBSA.
Limelight is the second PBSA scheme that Blacklight has developed in the city, with its first, the 999-bed Aura, being sold in 2022 to Tristan Capital Partners for £110m. A third scheme, also in the Knowledge Quarter, is currently being progressed by the company.
