Aberdeen Asset Management has paid £30m for Aston Spring’s proposed student scheme on the site of the former Rich Bitch Studios in Birmingham, where musicians such as Robert Plant (pictured) have recorded.
The consented Helix project will replace 495-505 Bristol Road with 267 en-suite student rooms, and other amenities. Based on forecasted rents, the price reflects a yield of 6.10%.
Richard Walsh, director at Colliers International, which advised Aston Spring, said: “The location coupled with the specification creates the best regional student product in the UK currently.”
