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The student accommodation platform Nido Living was born in 2007 for the development, acquisition and management of premium student housing. Since then, it has developed and managed over 18,000 beds in the UK and Europe. Its current portfolio consists of 7,000 beds across the continent, including 3,000 in development, and it anticipates significant growth.

 

Nido's establishments welcome residents from over 120 different countries enrolled in more than sixty universities and academic institutions, as well as graduates embarking on their professional careers and beyond. Its success is based on ongoing learning and adaptation, ensuring that its residents not only get the best physical product, but also a community and social experience.

 

In 2024, Nido Living was acquired by the Canada Pension Plan Investment Board (CPP Investments) and opened its headquarters in Amsterdam.

 

     

 

What has Nido Living's track record been like in Spain?

Nido entered the Spanish market in 2022 and currently has almost 2,000 beds in the country, with plans to continue expanding. Spain is a very interesting country for students and young professionals, as it is one of those that receive the most international student every year. It is therefore a key region for care home operators and managers. Private student halls are already the first accommodation choice among students in Spain according to the DBK Informa Industry Observatory, which estimates that there could be 122,000 places in student halls by the end of 2024, an increase of 12,000 compared to 2022. One of the main reasons for this is the growing demand for accommodation and the rising cost of private rental housing, caused by limited supply and rising mortgage rates. Some Spanish university cities, such as Madrid, Seville, Valencia and Barcelona, are in fact experiencing a shortage of available accommodation for both international and national students who have to change cities. We are very satisfied with the evolution of our assets in Spain. The occupancy level of the operational buildings has met our expectations and we continue to work to prepare the two new developments that will open their doors to students next September. Moreover, we plan to continue to grow in 2025, so the outlook is very positive. We can proudly say that the students are very happy. Many of them will repeat next year and we will in fact continue to expand our services.

 

What has been the investment in the projects you have developed?

We are very proud of everything we have achieved in three years of activity in Spain, since we opened Nido El Porvenir in Seville. Last year, we opened our second development, Nido Aravaca, in Madrid, and it has been very well received, with an excellent location in the university area of Pozuelo de Alarcón. This year, we aim to increase our number of beds in Spain by 97% with the opening of two new buildings, reaching 1,803 beds in September. We have invested over 140 million euros in both developments. One of them is located in the centre of Madrid, which we recently presented. This is Nido Príncipe Pío, with 636 places. With this opening, Nido Living now manages two Spanish assets. The investment amounts to 120 million euros between the purchase of the Florida Norte hotel and the cost of the refurbishment. This year, we are also arriving in Valencia for the first time with the Nido Malvarrosa centre, which will be located just a couple of hundred metres from the main Polytechnic University campus and the University of Valencia. It has 253 beds. The investment amounted to 23 million euros.

 

How many employees work in your student halls?

We have nine permanent staff members in our Spanish halls, which will increase with the opening of Nido Malvarrosa in Valencia and Nido Príncipe Pío in Madrid, something which is key for us to meet the needs and wishes of students on the ground and continue to offer excellent services.

 

Your business model includes owning the buildings you operate. What are the advantages?

Through Nido's vertically integrated platform, we invest, develop and manage student halls across Europe, with the aim of becoming the leader in student-centric accommodation. This business model gives us a competitive advantage that lies in our deep-rooted expertise in property management and operations. This heritage provides unparalleled consumer insight, enabling us to deliver exceptional customer experiences. Students choose Nido because we listen to their needs, maintain a personal touch at each location and prioritise wellbeing, sustainability and community. This unique management expertise also enables us to maximise NOI (net operating income) and rental growth, acquire, design and develop award-winning properties and implement efficient operational solutions with scalable technology and systems.

 

How important is Spain in Nido Living's strategy?

Spain occupies a central position in Nido Living's strategy due to its competitive education industry and its high attractiveness for national and international students, especially those in the Erasmus programme. Private student halls are the favourite accommodation option for students in Spain, reflecting strong market demand. Building on the success of our existing student halls, where an overwhelming majority of students express their satisfaction and intention to return, we are expanding our presence in Spain to further enhance our platform and effectively meet the growing needs of students.

 

What is the profile of Nido Living users in Spain?

We serve two main user groups: undergraduate and postgraduate students. University students are usually young adults who move to Madrid, for example, from several parts of Spain. Most of them are national students, around 60%, with a smaller international presence. The length of their stays varies greatly. That's why we can offer a wide range of accommodation options and have just launched two flex living programmes in Valencia and Madrid which, although aimed at students, can also accommodate young professionals. Postgraduate and Master's students, often older and predominantly from outside Madrid, also prefer student halls or halls separated by genders. They tend to stay for extended periods, concentrating on their studies in a supportive environment. Overall, Nido Living offers an enriching environment tailored to the needs of national and international students, and making it one of the best options for those studying in Spain.

 

What added value do you offer your users?

In addition to high quality, secure accommodation with all the amenities, Nido adds value by understanding what residents want and need on the ground and designing residences and initiatives around it. Placing student experience and well-being at the heart of our activities adds great value on the social side: from experiential event programmes to wellness sessions and toolkits to help students cope with difficult times. In addition to our on-site teams, our student surveys tell us what their concerns are and help us provide the right kind of support and initiatives. Moreover, our focus on sustainability adds value through influencing behaviour, creating environmental champions among our students and even providing them with sustainable gifts from local businesses, such as reusable straws, bags and water bottles. We work with local community partners to offer our students the opportunity to participate in charity and volunteering initiatives that contribute to their CV and work experience, as well as integrating them into the city in which they live.

 

How many new student halls do you plan to open in the coming years?

In 2024, we will continue our expansion and will keep focusing our efforts on building quality communities and strengthening our presence in the country. In fact, we are already managing new assets for 2025 in Spain.

 

^{Photos: Nido Living}