Global alternative investment manager The Carlyle Group has announced the launch of its new London-focused student accommodation brand, Pure Student Living.
In a joint venture with Generation Estates, Carlyle will be developing a number of centrally located, high-quality but competitively priced residential halls, in order to address the under-served London market, where there is a significant imbalance between supply and demand. Following the launch, rooms are now available in the venture's first scheme, Pure Highbury in North London.
Pure Highbury, which is due to open in August this year, is a centrally located 400-bed private residential hall, located just two minutes' walk from Finsbury Park underground station and within 20 minutes of 18 London universities.
Following detailed discussions and interaction with existing students, together with the founders' longstanding experience in developing and managing student residences, the offering and environment at Pure Highbury (and at all of the Pure Student Living residences which will follow) has been tailored to meet the specific requirements and priorities of students living in London today, whilst the same time providing peace of mind through the facility's market leading security.
Pure offers students the choice of either study-bed or studio type rooms and uses a simple all-inclusive pricing structure which provides competitive, value for money packages that include 10Mb internet provision, all utility bills, a 24-hour gym and fitness center and contents insurance, as well as 24-hour security and dedicated maintenance and housekeeping teams run by a residence manager, all for between £215 and £255 per week.
Importantly, Pure residences will also feature numerous communal social spaces including a games room, outdoor terraces, iMac computer suite and cinema room, as well as a kitchen and lounge, allowing the residents to enjoy the more social and collegiate aspects of student life.
As well as offering simplicity and value for money, Pure is committed to providing quality and, to this end, has partnered with some of the best service providers in the industry. Laundry services are managed by Circuit, contents insurance is offered by Endsleigh Insurance and high-speed bandwidth is provided by industry leader ASK4.
Service is central to the Pure philosophy and each residence will employ skilled friendly advisors who are able to offer students advice on many topics ranging from setting up a bank account to registering at the local GP, all aimed at making the student experience hassle-free wherever possible.
In addition to Pure Highbury, Pure Student Living has three further residences which are due to be delivered during 2013 and 2014, adding ca. 800 beds to London's private student housing market. These will be Pure Hammersmith, located at the former Hammersmith Palais concert venue, Pure Bankside, on Ewer Street in Southwark, and Pure City, on Goswell Road in Islington
Pure Student Living was founded by global alternative asset manager, The Carlyle Group, which has pioneered student housing in The Netherlands through its The Student Hotel brand, and Generation Estates, whose management team has been responsible for circa. 5,000 high-quality, purpose built student beds in London since 2004.
Robert Hodges, Managing Director at The Carlyle Group, said: "The launch of the Pure brand is an important stage in the development of our student accommodation product in the London, which is a great complement to our existing Student Hotel operations in the Netherlands. We believe that this market is underdeveloped and has huge potential to grow in London, given the current imbalance of supply and demand in the sector, and look forward to bringing our pipeline of new sites to completion."
Gareth Davies, Pure Student Living co-founder said: "With our experience of the student market and by talking directly to the students themselves, we've worked hard to create the perfect environment for today's modern student. Pure Student Living offers conte