Liberty Living, the property asset manager for the Brandeaux student accommodation fund, has purchased a 612-bedroom scheme from the University of Leeds.
Liberty Living paid £23m for the student accommodation at Clarence Dock, which it will rename Liberty Dock.
The sale includes a nominations agreement, which means the property will be leased to the university’s students for the next 15 years.
Ian Robertson, head of residential accommodation at the university, said: “The sale, with a nominations agreement, will allow us to invest the proceeds in the development of brand new residential accommodation at one of our own retained sites, whilst still ensuring that accommodation is also available to us at Liberty Dock in the long term.”
The purchase comes shortly after Liberty exchanged contracts for a £35m 502-bedroom Berkeley First scheme in Gillingham, Kent.
DTZ advised the vendor; Liberty was not represented.
joanna.bourke@estatesgazette.com
