Savills, on behalf of private investors, together with CA Ventures and Golub & Co., has completed the sale of LivinnX, a Purpose Built Student Accommodation (PBSA) building in Kraków, Poland, to Xior. The asset, LivinnX, has 290 self-contained units with 673 student beds and offers many amenities, including a roof terrace with a jacuzzi, climbing wall, gym, sauna, community kitchen, laundry room, music room and various other recreational and study spaces. The total lettable area is c.14,400 sqm. The price has not been disclosed.
The property is situated on Tadeusza Romanowicza Street within the Zablocie district and southeast of the Kazimierz district, one of the key tourist destinations in Poland. It is a 300-metre walk to Andrzej Frycz Modrzewski Kraków University, the largest private university in Kraków, with approx. 8,000 students. There are numerous amenities in the neighbourhood, including coffee shops, pubs, restaurants and grocery stores. There are good public transport links located within a short walk from the building, offering access to all of Kraków’s major hubs in under 10 minutes.
Jacek Kałużny, Head of Operational Capital Markets, Savills Poland, says: “Demand for PBSA in Poland is on the rise due to an increasing number of international students and a growing expectation coming from the domestic sector for modern student housing. LivinnX is one of the highest quality assets in the country and we are delighted to have completed the sale on behalf of our client.”
Marcus Roberts, Head of Savills European Operational Capital Markets, says: “Poland is the fifth largest student market in the European Union, with ca. 1.22 million students enrolled in higher education. Whilst Poland’s PBSA market has seen significant development in recent years it remains in its nascent stages making it an attractive market for investment that is primed for further growth.”
