Portergate seeks interest from Chinese investors

A developer of student accommodation projects in the North West will this week seek interest from Chinese investors.

Anthony Jackson, chairman of Portergate Property Management, is leading a delegation to the Overseas Property Investment Show in Shanghai.

Among Portergate's projects in the North West is the £13m Riverside House in Salford, a hotel-class purpose-built halls of residence containing 242 luxury en suite student rooms.

Portergate has already attracted major interest from overseas investors with its boutique student living concept and believes there are major opportunities for the company in China.

The Shanghai show is a major international event, attracting 130,000 visitors and featuring hundreds of specialist exhibitors from 30 countries.

Portergate has also received planning permission for an £18m project in Preston, which is scheduled to be open and ready to take students at the University of Central Lancashire next year.

The company now has more than 500 rooms open, under construction or with planning consent across the North West. It is considering further developments in the region.

Jackson said: "With the rapid growth of their economy, overseas property and investment has become a new investment concept for Chinese people.

"We're already seeing major investment from overseas in our concept. Investors are looking at the growing importance of the university sector to the UK's economy and the growing number of overseas students being attracted here.

"The student accommodation sector is seeing continuing growth and is a real property success story in the UK.

"Our business model has received a terrific response from overseas investors and we are expecting an enthusiastic response from our Shanghai visit.

"Overseas investors see the UK as a solid and strong place in which to invest their money and are excited by our plans and growing portfolio of developments."

The four day property event, at the prestigious Shanghai Exhibition Center, is in its ninth year.

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Why are the only student schemes being offered to overseas investors those that are based in fringe locations. It is probable that the schemes being offered do not pass due diligence for commercial UK based lenders or investors. Overseas buyers should proceed with care.

By NW Investor

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