JLL has brought a purpose-built student accommodation (PBSA) in Durham to the market. Ernest Place – which opened in 2017 -includes 362 bedrooms in a mix of ensuite rooms in cluster flats and studios. The property benefits from market-leading amenity spaces, including a fitness suite, sky lounge and cinema room.
High specification bedrooms include ¾ sized beds, flat screen wall-mounted TVs, and an integrated dishwasher in all cluster flat kitchens and studios.
Ernest Place has a strong letting track record with 100% lettings in AY22 and AY23. There is currently a Nomination Agreement to Durham University for AY23, covering all the beds within the scheme.
The PBSA development is a 15-minute walk to the St Hild and St Bede College of Durham University. PBSA operators in Durham are reporting strong demand in the city, with full lettings ahead of cycle and the development pipeline in area is restricted due its heritage status and restrictive planning environment.
Durham is a structurally undersupplied city with a material shortfall of student accommodation – over 10,000 students are unable to access university or private PBSA. The area has experienced a 13.5% increase in full-time student numbers in the last two years, and no PBSA schemes have opened in the city since 2018.
