Scape Living has put the long leasehold for a purpose-built student accommodation scheme in Brighton up for sale for £67m.
The student accommodation provider, which is backed by Dutch pension fund APG, has appointed Knight Frank to sell the site.
The scheme, at 5 Circus Street, is let to Kaplan Brighton until September 2040. It comprises 450 student rooms divided into 81 studios, 366 en suite rooms and three one-bed flats, as well as 1,130 sq ft of retail space occupied by White Cloud Coffee Roasters.
The 2.4-acre Circus Street site is situated in central Brighton. It is 100% let for the 2023/24 academic year.
Merelina Sykes, joint head of student property at Knight Frank, said: “Brighton has one of the highest student ratios of all university towns and cities across the UK, with students making up 11.7% of the total population.
“Despite being one of the highest-density student markets in the country, PBSA in Brighton only caters for around 34% of full-time students – meaning demand heavily outweighs supply. As a result, schemes like this one offer an excellent opportunity for investors, and we expect to see strong interest following the launch.”
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