Prime Midlands’ investment asset brought to market has been saved
Prime Midlands’ investment asset brought to market
2 December 2015
Aston Student Village today announces plans to sell its interest in the 3,067 bed space student accommodation complex adjacent to Aston University in Central Birmingham.
The accommodation, 100 per cent let this academic year, has a forecast £16.6m gross annual income and will be brought to market in the New Year. Joint agents Deloitte Real Estate and Knight Frank will be seeking offers in excess of £200m.
Chris Baldwin, partner and head of residential at Deloitte Real Estate, said: “This investment will represent the largest single property transaction of student housing to take place in the UK this year. The student housing investment market has transacted over £5.7bn in the last nine months, and this is a prime asset allowing any investor to capitalise on a thriving market.”
James Pullan, head of Student Property at Knight Frank, comments: “Investors are particularly drawn to the UK’s higher education sector because of its perceived position within a global context. Aston Student Village will be of interest to institutions and operators from a global investment base.”
Aston Student Village accommodation was voted number one in the UK and number 10 worldwide for best accommodation quality in 2014 by the International Student Barometer. The accommodation is also adjacent to Birmingham City University’s new campus and Birmingham City Centre, close to the main shopping, business and entertainment areas.
Notes to editors
In this press release references to Deloitte are references to Deloitte LLP, which is among the country's leading professional services firms.
Deloitte LLP is the United Kingdom member firm of Deloitte Touche Tohmatsu Limited (“DTTL”), a UK private company limited by guarantee, whose member firms are legally separate and independent entities. Please see www.deloitte.co.uk/about for a detailed description of the legal structure of DTTL and its member firms.
The information contained in this press release is correct at the time of going to press.
Knight Frank LLP is the leading independent global property consultancy. Headquartered in London, Newmark Grubb Knight Frank in the Americas, and Douglas Elliman Fine Homes in the US, operates from more than 370 offices, in 55 countries, across six continents and has over 12,000 employees. The Group advises clients ranging from individual owners and buyers to major developers, investors and corporate tenants. For further information about the Company, please visit www.knightfrank.com
Member of Deloitte Touche Tohmatsu Limited.