L&G has bought a student housing block in Winchester from a private investor for £31m.
The purchase of 399-bed Queens Road Student Village was on behalf of the LPI Income Property Fund, which has increased its investment portfolio to £870m.
The property was constructed in 2010 and offers 399 student bedrooms. It is let to the University of Winchester for 40 years at a rent of £1.3m pa.
The campus is situated on the west side of the city centre within a 10-minute walk of Winchester station and the central shopping area.
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