A student landlord has struck gold by building an unusual, yet profitable real estate project \u2013 a five star student accommodation hostel. Werner Toogood\u2019s initiative came after more and more well-off parents sought \u201cthe best conditions\u201d for their children attending university studies. A new business idea sprouted and Toogood didn\u2019t waste any time in seizing it.<\/p>\n
The first step he took was to buy an old office building in Canterbury, a university center in Kent, England. He paid 300,000 pounds for it and invested the same amount in renovating it and turning it into an 11 bedroom hostel, each room with its distinct interior design. The final result is a student dig built in a boutique style.<\/p>\n
The investment proved successful, the businessman, who already managed 200 properties, home to about 500 students, told Daily Mail. \u201eThe fact is there will always be a number of students whose parents want them to have the best and are prepared to pay extra for it. We were getting people reserving accommodation even before the project was finished and have let most of the rooms already. Some will be overseas students, but we expect it to be about 50\/50\u201d he said.<\/p>\n