Elmstead Place, Colchester

Colchester

Active

Elmstead Place, Colchester

PBSA

City

Colchester

Client

Institutional UK Fund

Service

Lot Size / Asset Size

A 138 bed ensuite led operational PBSA scheme located close to Essex University's campus.

Service

  • Operational Oversight
  • Revenue Enhancement
  • Accretive Capex Programme Implementation

AREA in Action

  • Implementation of accretive summer capex programme, maximise revenue by conversion of large ensuite to studio beds across the scheme.
  • Change in operating model, reducing costs by 7%. Rent setting (23/24) at +4.9% to Property Managers initial recommendation to the client.
  • Achieved +0.8% gross revenue through an in-year dynamic pricing model.