Agnes Jones House and Bedford Street South in Liverpool have been sold for £14m to a Hong Kong-based client of Estate Office Property Consultants.
Knight Frank’s student team sold the student block on behalf of receivers at GVA.
The price paid for the 370-bed block reflects a net initial yield of circa 6.5% and a capital value per room of £38,000. Rents are an average of £105 per student.
Josh Woolley of Knight Frank Student Property said: “The transaction demonstrates continued demand from international investors to gain exposure to the UK student accommodation market. It also illustrates the demand for schemes showing affordable price points, with a demonstrable trading history and ‘value add’ asset management potential.”
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