What’s new for rental?
“Value of UK’s PBSA sector to reach £72bn by 2022” - Knight Frank
Is Purpose Built Senior Living the new PBSA?
It is hard to believe that (arguably) the very first PBSA company, Unite Group was founded in Bristol in 1991, over 30 years ago!
This came from a vision, a nugget of an idea, to give students a safe purpose-built community, in which to live for the duration of their study in further education. A firm recognition that not only first year students need this kind of accommodation, Unite set out to provide a safe environment for students in every year of study.
I can remember working at Unite (a long time ago) this seemed very new, I can remember the conversations “why would you provide amenity space” “surely you don’t need to bother with the décor" and my all-time biggest annoyance “it will just get wrecked anyway” well even in those days we knew the value of providing a great space for people to call home, and the importance of creating safe, inclusive, and professionally managed buildings. What I did not know was just what an impact PBSA would make on the rental property sector.
Now Unite alone, own and operate over 73,000 beds, not bad for one vision of how things could change in the rental market!
It is not only Unite, Knight Frank’s dedicated Student Property team estimates that circa 24,000 additional PBSA beds have been delivered in 2021 – up from 14,000 in 2020 – representing a year-on-year increase of 71% and bringing the UK’s total to over 700,000.
Obviously, this is only the UK numbers, when we start to try to count the number globally, it becomes truly mind boggling! Starts to give you a sore head… in a good way!
Loopliv is on the starting blocks
Loopliv have a vision. here is our nugget of an idea, who knows, this will become something which will impact the rental property sector in a comparable way, or even outstrip it!
Who says when you are over 50, that is it? You should be happy with your lot! Ok, so maybe you have your own house, your mortgage is paid off, but just maybe you are looking for something different?
We say, “and so you should” with the over 55yrs market due to exceed 74 million by 2039, you know this is the forgotten market, right? Is Purpose Built Senior Living PBSL the new PBSA?
We are so delighted to see Savills, and Knight Frank two of the leading companies in the real estate sector, have acknowledged exactly this in their recent reports.
On a serious note, can you imagine how many people want to experience a new way of living, to make new friendships, start businesses, start new hobbies, and start to have fun.
It seems like the gap between being in your 50’s and then catapulted to your 70’s is just forgotten about. It is a full 20 + years! And arguably a time when the impact on life can be the most profound. let us take health and wellbeing as one part of this, the more stimulation, activity, and fun a person has the more it has a positive effect on their wellbeing in later years, we passionately believe this will have a positive impact on how people see their life in later years.
I guess this has become more relevant to me as I enjoy this period of my life, one thing I was not prepared for was the barrage of suggestions coming through my door, ranging from retirement plans to tests (you know the ones) and holidays people think I should like! OMG! What happened, suddenly people think I should be living a different life, one which I really cannot ever see me enjoying.
With all of this in mind we have set up LOOPLIV Group, and our driving force is to bring an inspiring, fun, energetic, healthy new way of renting to those who, are ready to try something different.
So, watch this space, we are on a mission, this is the future of renting…