Regional REIT has sold Arena Point, Leeds, for £10.65m.
The 19-storey office block will now be torn down to make way for a 43-storey tower with accommodation for 705 students.
Regional bought Arena Point in 2016, along with two neighbouring buildings for £10.5m. The neighbouring buildings were sold in 2018 to Unite Students for £12.2m.
The sale of Arena Point represents a 15.8% increase against last year’s valuation.
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