Companies that own two student accommodation schemes once valued at £35M have been put into administration as pressure mounts on owners and operators in a sector hit by the coronavirus pandemic.
Administrators from David Rubin & Partners have been appointed to companies that own two schemes totalling more than 600 rooms in Luton, Bisnow can reveal. They are the first significant schemes to go into administration or receivership since the beginning of the pandemic.
The student accommodation sector has seen income take a hit as a result of lockdowns, with many operators having to return rent to students who could not take up their places in the 2020 and 2021 academic years. Cushman &…
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