Orka adds 249-bed Liverpool scheme to growing PBSA portfolio

The London-based property investor has acquired Vista Square in joint venture with Nuveen.

Orka Investments’ purchase of the 249-bed scheme off Oldham Place takes the JV’s portfolio of student assets in Russell Group cities to 1,761 beds.

The deal sees the Orka/Nuveen JV take control of 11171749 Limited, the firm that developed out the site.

The entity has changed its name to Omnis Liverpool and lists Nuveen’s Mark Bowker, Tyler Brownwell, and Batih Van Leer as directors, alongside Orka’s Raoul Malhotra.

The scheme, constructed in 2025 and fully let for the current academic year, is Orka’s first in Liverpool. The firm also owns assets in Birmingham, Glasgow, and Exeter that were, like Vista Square, acquired with finance from Investec.

The Liverpool deal follows the purchase of Hill View Place in Exeter earlier this month and takes the joint venture’s portfolio to 1,761 beds across five schemes.

In total, Orka holds 2,300 student beds across the UK both as part of the JV and outside of it, including Riverside in Salford, which the investor is seeking to expand.

The joint venture was advised by Simmons & Simmons and Colliers. Cushman & Wakefield acted for the seller.

Philippe de Croÿ-Solre, vice president of investments at Orka, said: “Liverpool has one of the deepest student markets in the country and students there have plenty of choice, so the gap between the best buildings and the rest keeps widening. Demand at the top of the market is moving towards newer schemes with proper amenity and good service, and towards studios in particular. Buildings that have not kept up will find it harder to let.”

“At the same time, construction costs and the new building safety regime are holding back development, so much of the next generation of quality student housing will come from upgrading existing schemes. That is where we see the joint venture’s next acquisitions – buildings from earlier development waves where the location is right but the product can benefit from targeted upgrades.”