Guernsey's Legis Group will be administering a newly launched vehicle investing in student accommodation, a new alternative property class to watch.

Guernsey-headquartered financial solutions provider Legis Group will be administering a newly launched vehicle investing in student accommodation, a new alternative property class to watch.

The Curlew Student Trust was launched on 19 December by Curlew Capital Limited and CBRE Global Multi Manager and will invest in purpose-built student accommodation throughout the UK, focusing on the top 50/Russell Group universities and where Curlew identifies strong sustainable returns.

The vehicle was established as a result of investment by UK and global clients and will target superior returns by forward-funding new developments in high demand student locations. So far, CBRE GMM has committed £40 million to the venture.

Managing director at Legis, Patricia White, said that interest in property investment funds had seen a significant increase in the last year.

"This new vehicle is a response to demand from institutional investors for more esoteric asset classes in the property investment sector,” she said, adding that the choice to launch the trust in Guernsey is an example of the growing authority that the island is gaining in the financial services sector.

“The decision to have the Curlew Student Trust administered in Guernsey is a real endorsement for the island. It shows that Guernsey remains a leading jurisdiction in this field,” explained White.

The trust will be managed by Paul Oliver, former joint CEO of Teesland, while operational and property management will be provided by Fresh Student Living. Legis Fund Services will act as administrator.