Student accommodation worth £400 million put up for saleComments Off on Student accommodation worth £400 million put up for sale
The sale comes as students wanting more-luxurious accommodation featuring gyms and cinema rooms, pushes rents up, making the properties attractive to buyers.
The buying frenzy in the sector has seen £4.2 billion spent on student digs or land on which to build them in the first five months of this year. The record figure surpassed the £2.5 billion invested over the whole of 2014.
Buildings in Chelsea, Notting Hill, Canada Water and Camden, some fetching £500 per week in rent, are among the 25 properties across the UK that The International Mutual Fund has decided to sell.
It instructed property agent Knight Frank this year to explore sale options.
James Pullan, head of student property at Knight Frank, said: “We anticipate interest from all four corners of the globe.”
Unite UK Student Accommodation Fund today said it had paid £271 million for eight properties, including two in Southwark and Islington, from Ahli United Bank.