When people talk about studio accommodation, many people have visions of cheap, overcrowded and potentially qualifiable slum housing. Not too dissimilar to something from The Young Ones in the 1980s or the haphazard quirky and out-of-date decor of the Channel 4 Fresh Meat house. Demand for a higher quality of living has grown substantially since then. The fastest-growing area of the student accommodation market is the demand for luxury accommodation. Whilst this is a national trend there is a big rise in people searching for luxury student accommodation in Sheffield.
Why the big demand for luxury student accommodation in Sheffield?
The demand has grown for students looking for a self-contained studio or 1-bed apartments over the last 10 years. As with demand rents have risen by 80% in this market according to a study conducted by the NUS. Following these higher, rental prices mean tenants are looking for more for their money. Students are looking for more contained properties including features not necessarily found in shared housing and halls. Ensuite bathrooms, private kitchens and personal living areas are all expected as basic in modern luxury student accommodation.
Where has the demand come from?
The demand has increased from overseas students looking to gain higher education from the world reputable universities in the UK. 17 UK universities rank in the top 100 (4 in the top 10) according to the QS World University Rankings 2023: Top global universities.
The developmental and wealthy growth of the Chinese middle class has increased the number of Chinese families and students willing to pay the costly fees associated with studying abroad. Increased university places for students from overseas have opened up the pathway to higher education in the UK.
This new trend means that student demands in the sector are evolving and this as a result has resulted in a greater focus on the student experience, which includes accommodation. The fact that it’s often very expensive for overseas students to come and study in the UK means that those that do are more than likely from wealthy families. Not only are they willing to pay the higher tuition fees but they are also more willing to pay for higher quality accommodation.
What classes as luxury student accommodation?
Traditional student accommodation consisting of a basic room and enough space for a bed and a desk simply doesn’t cut it in the world of luxury. The new high-end accommodation is much more like a self-contained apartment. These facilitate separate bedrooms, study and living areas and en suite shower rooms. This doesn’t just stop in the room though with the majority of developments also featuring luxury additions such as private kitchen areas within the living space with integrated appliances.
Though still relatively small in number there are more such developments in the pipeline which provides a great opportunity to deliver additional connectivity services to the residents. Most student accommodation is usually provided with a shared wi-fi service, providing a good but fairly basic solution. Thanks to residents who are willing to pay a significant premium, suddenly full-fibre to the room solutions complete with a range of smart building and convenience solutions including TV distribution look more viable.
Extensive growth of luxury student accommodation in Sheffield
For developers building new apartments, it’s also a great opportunity to help make a new development stand out by being the best connected and smartest building in town. Many new developments are popping up all over Sheffield, for example, the new era development on the corner of St Marys Gate and Bramall Lane is targeted at attracting international students specifically from China.
How we are reacting to the change in demand for luxury student accommodation in Sheffield?
At Thornsett we have invested heavily in our flagship student accommodation blocks located in at the Croft Buildings and Gladstone buildings. We have also refurbished our other city-centre property developments like those at st peters close and trippet lane to provide luxury accommodation with studio, 1 and 2 bed self-contained apartments. As part of our ongoing refurbishment projects, we aim to provide more self-contained accommodation to account for the increase in demand, whilst still offering “traditional student house sharing for larger groups wanting to live together.
Our aim is to provide 1st class ongoing maintenance aimed at being proactive not just reactive, We believe that maintenance done right is helpful not only to our tenants but benefits our property portfolio for future tenants. Take a look at our Google reviews on how serious we believe in upkeeping our properties to the highest standards.
Our Luxury student accommodation is of such high quality that we are also letting many of the properties to professionals who work in the city centre looking for a modern upmarket city-centre living. Many are available with a full-service type agreement featuring extras such as bills inclusive packages.
What are the benefits of living in luxury student accommodation?
Living in luxury student accommodation has many benefits including:
High standard of finishing
Paying more for student accommodation means you can expect a higher quality of finish to the property you rent.
Paying a premium means you shouldn’t have to wait weeks or months for issues to be sorted
Integrated appliances and furnishings
Moving from far away to your temporary new home whilst at university, you shouldn’t have to spend time looking for furniture or having to worry about washing machines or ovens. Luxury accommodation should come fully furnished and have everything ready for you to move in straight away.
Separate rooms and areas.
The main draw to looking for luxury accommodation is separating the areas of your property, even a studio property should provide a separate room for a bath or shower room. With apartments having a separate bedroom and bathroom but still possibly combine the living and kitchen area.
Location Location Location
Many luxury student accommodation buildings are located in city centres enabling access to all the facilities on offer and excellent transport links.
You can read more about the benefits of our 1 bedroom student flats in Sheffield we have available here.
About Thornsett Properties
Thornsett Properties have been refurbishing and developing luxury student accommodation in Sheffield since 1985. We supply accommodation to over 650 undergraduates and postgraduate students studying at Sheffield University and Sheffield Hallam University every year. Designed to fit with your budget whilst looking for student accommodation. Thornsett Properties are property owners and not agents. All our properties are managed by ourselves and not reliant on third parties. Our aim is to help you succeed in our luxury student accommodation in Sheffield