A new senior solicitor at Wilkin Chapman is working with clients to increase the number of student rooms available around the University of Hull.
Tom Herd from Wilkin Chapman works with a wide range of commercial property clients across East Yorkshire and beyond, although a large percentage of his time is spent assisting with the purchasing and refinancing of student accommodation in Hull.
Herd is a commercial property specialist and has been promoted to the role of senior solicitor at Wilkin Chapman after five years with the firm. He mentioned he was “really pleased to be promoted to senior solicitor”.
Herd has been working with clients to increase the number of student rooms available for students in the former UK City of Culture.
Speaking on the subject, Herd said: “I have a real mix of different clients but recently I’ve seen an increase in demand from my buy-to-let clients who are purchasing rental properties, often referred to as houses of multiple occupancy (HMO), to help meet the growing need for student accommodation around the University of Hull.
“Despite house prices rising, I’m still seeing lots of buy-to-let purchases and the market is not showing any signs of slowing down. The university is growing, so with that comes more students and higher demand for student accommodation.
“HMOs seem to get a bad reputation, and there are some unscrupulous landlords out there, so we facilitate our clients to do it by the book, follow the law and meet every responsibility to tenants and the local community.”
Herd added: “Done right, student accommodation is a big opportunity for property investors, and some of my client’s companies that are responsible for hundreds of student rooms in the city. That, in turn, generates a lot of work as they can scale their businesses relatively quickly.”
“They appreciate the work I do for them and the fixed prices I can offer, so they know exactly what everything is going to cost.”
Image source: Wilkin Chapman
