Student accommodation specialist Unite has sold its 135-bed scheme on McDonald Road in Edinburgh.
It has sold the asset to Bouwfonds, reflecting a 6.3% yield.
A spokesman for Unite said: “This is part of our ongoing non-core asset disposal programme to ensure we maintain a disciplined portfolio. The proceeds from the sale will be recycled into USAF (Unite Students Accommodation Fund).”
Savills acted for Unite on the deal, bringing the amount of student housing transactions Savills has advised on in 2014 to nearly £1bn and close to 18,000 beds
Marcus Roberts, head of student investments at Savills, said: “It is great to have signed off this deal before Christmas and it tops off a very successful year. In 2014 we have advised on 42 transactions in the student accommodation sector.”
