Urban Study to sell Newcastle PBSA portfolio
Student housing provider Urban Study is looking to sell its 354-home Newcastle PRS student portfolio.
The portfolio spans Tyne Bridge Apartments, Melbourne Apartments, and Jesmond Apartments, with offers to be sought in the region of £38m.
All three sites have been created by Urban Study and feature amenities including private gyms, cinemas, workspaces and secure parking.
Student housing provider Urban Study is looking to sell its 354-home Newcastle PRS student portfolio.
The portfolio spans Tyne Bridge Apartments, Melbourne Apartments, and Jesmond Apartments, with offers to be sought in the region of £38m.
All three sites have been created by Urban Study and feature amenities including private gyms, cinemas, workspaces and secure parking.
Tyne Bridge is a 46,592 sq ft premises and Melbourne Apartments offers 36,740 sq ft. Jesmond Apartments spans 42,490 sq ft.
Newcastle is home to two universities, including the Russell Group university of Newcastle, which saw admissions increase by 43% between 2015 and 2020. Its GDP has been predicted to grow by 4.5% in 2022, with £1.5bn of investment planned for the city.
Allsop is marketing Urban Study’s portfolio for sale.
Anthony Hart, partner in student housing at Allsop, said: “The purpose-built student accommodation pipeline for Newcastle is constrained, while its student population has been steadily growing despite Brexit, and its status as one of the leading tech hubs in the UK has turned it into a magnet for young professionals.
“The three buildings are perfectly located in the most-in-demand leisure destinations of the city, while offering easy access to both universities – which explains the high occupancy figures and should provide comfort to prospective investors.”
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