Paddington student accommodation hits market for £55m

The University of London’s 313-bedroom student accommodation in Paddington has been put on the market, seeking offers in excess of £55m. Lillian Penson Hall has facilities on the lower ground, ground, and six upper floors. It also has planning permission for an additional 17 bedrooms and an upgrade of the existing rooms and facilities. The 103,377 sq ft property is located 100 meters from Paddington station. Darren Arnold, Savills development director, said: “The building is superbly placed and provides a variety of asset management opportunities.” The building was put on sale as the University of London focuses on student accommodation in the Bloomsbury area. To send feedback, e-mail akanksha.soni@eg.co.uk or tweet @EGPropertyNews Image © Savills