Maven Capital Partners and IP Investment Management are looking to sell the £143m Latitude Portfolio, a collection of seven purpose-built student accommodation assets in five UK cities.
Knight Frank has been appointed to sell the portfolio, either as a whole or as individual properties.
The Latitude Portfolio comprises three schemes in Stirling – Carters Yard, Centro House and Riverside Quay – Murieston Crescent in Edinburgh, Mansion Tyne in Newcastle, Stanley Studios in Portsmouth, and St Peter’s Hall in Bournemouth.
The opportunity offers a total of 1,250 bedrooms, split into 48% en suite and 52% studio rooms, as well as amenity space.
The portfolio has a strong operational track record, with 100% occupancy for the 2022/23 academic year, except for Stanley Studios in Portsmouth, which is under construction and will reach practical completion in time for the 2023/24 academic year.
Josh Woolley, a partner in the student property team at Knight Frank, said: “The portfolio has an attractive geographical spread across the UK in critically undersupplied markets with a very limited development pipeline.”
He added: “The current occupancy and rental growth projections are testament to the quality of these markets and the individual schemes in the portfolio.”
Selina Williams, executive director at IP Investment Management, said: “This is the fourth portfolio of luxury PBSA assets that Maven and IPIM have brought to market, having developed, let and stabilised over 3,000 student beds in strong regional university cities across the UK over the past 11 years.
“We remain committed to developing best-in-class buildings and creating vibrant student communities as we enter the next phase of our development cycle.
“With many locations in the UK seeing an acute shortage of accommodation coupled with significant growth in the number of both domestic and overseas students availing themselves of UK higher education the prospects for investors in the sector have arguably never been stronger.”
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