Xior has purchased a plot of land comprising 10,140m², located at the Selzerbeeklaan 21 in Vaals, the Netherlands near the tri-border area of the Netherlands, Belgium and Germany, in order to develop a brand-new student residence. Vaals is a popular student city which mainly focuses on the growing student population at the German University of Aachen. Thanks to this unique location right at the border, students from Germany can live close to the university while also enjoying the benefits of the Dutch rental subsidy system. In short, Vaals is a prime location, for both local and international students from Germany and the Netherlands. This project is a unique opportunity to further expand in Vaals and is also a perfect addition to the current portfolio, as it is located right next to the already operational Katzensprung residence with a total of 461 student rooms that was acquired in June 2020. This transaction will increase the total number of Xior units in Vaals to approx. 870.
This new student complex will comprise 15,000m² and feature 400 living units such as studios and some flats for young professionals. In addition to the student rooms, the residence will also contain various communal areas, office space and a commercial area. The total investment value is approximately €35m, and as this is an in-house development, it will be possible to achieve an expected gross initial return of approximately 7%.
Christian Teunissen, CEO Xior, commented: "We are proud to once again take an entire development project into our own hands, allowing us to retain the development margin and invest at a higher and more attractive yield. The expertise of our internal development team will make this residence another success. We are also very pleased to further strengthen our presence in Vaals, a location with exceptional potential which Xior strongly believes in. Not only the existing shortage of quality housing but also the growing student population will continue to support our growth."
