AIG has instructed agents to sell the first stabilised build-to-rent scheme in Leeds at Clarendon Quarter for £45m.
CBRE is selling the 324-flat scheme at Clarendon Quarter from the ownership of Luxembourg-registered Habitus Leeds, which is owned by AIG.
The scheme generates a gross rent of £2.6m and pricing reflects a net yield of 4.25%.
It comprises 262 studio apartments at CQ The Court let to key workers at affordable rents and a further 62 private rented flats at CQ The Garden with one, two or three bedrooms.
Watkin Jones developed the scheme at the old school building on St John’s Road in the north-west of the city. It is let by LIV and managed by Five Nine Living.
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