Fusion Students has brought a £232m portfolio of student accommodation assets to market.
Knight Frank has been appointed to find offers for the 1,857-bed portfolio – known as the Stellar Portfolio – located across four Russell Group university cities: Newcastle, Nottingham, Cardiff and Bristol.
Each of the sites is within a 10-minute walk of a university.
Most of the assets were completed in 2017 and have a gross income of about £16m per annum – a 5.4% net initial yield.
Alongside the sale of its portfolio, Fusion said it plans to develop another 2,500 student beds in the next two years.
According to Knight Frank, full-time students outweigh the number of purpose-built student accommodation bed spaces by three to one.
Sam Ball, partner and head of property transactions at Fusion Students, said: “We have assembled and stabilised a best in class portfolio across a selection of UK’s key regional university cities.
“The Stellar Portfolio will enable us to propel the business into its next phase, helping drive ambitious plans for future development.”
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