Rockspring is looking to sell two of its student accommodation blocks in London and Leeds for a combined value of £96m.
Dashwood Studios, London and Leodis Residences in Leeds are both currently 100% let, with Leodis being marketed with a short term lease agreement, to the University of Leeds, with rental income for a minimum of three years. Combined the assets provide accommodation for 951 students.
Each of the 719 en-suite student bedrooms, set across 10 blocks of accommodation, at Leodis Residences currently represent a 6% yield. Dashwood Studios, which comprises 232 studio bedrooms has a yield of 4.75%.
Merelina Monk, associate in student property at Knight Frank said: “This represents an extraordinary opportunity to acquire immediate scale within both the direct let and leased student accommodation sector, in predominantly undersupplied world class university cities within the UK.”
Knight Frank is marketing the opportunity.
