Maven Capital, IP Investment Management and Glenmore Group are looking to divest The Trium portfolio – a trio of purpose-built student accommodation assets located in Durham, Southampton and Exeter.
Offers in excess of £84.1 million are invited to acquire the freehold interest in the properties, together comprising 619 studios and apartments.
Duresme Court in Durham opened in September 2018 and has 276 studios arranged over nine room types and split across six blocks.
Stanley Studios in Southampton is a 245-bed new purpose-built student accommodation property opening for the first time this academic year. It has 177 studios and 68 two-bedroom apartments, with amenities including a gym, games room, cinema, private dining room, communal lounge and roof terrace.
West Gate in Exeter has 98 student beds arranged across 91 studios and seven duplex rooms.
Property consultancy Knight Frank is arranging the sale.
Rachel Pengilley, partner in the student property team at Knight Frank, said: “The Trium Portfolio provides an excellent opportunity to secure three best-in-class schemes with exceptional amenity provision. Each of the properties occupies a prime micro-location within its respective student market; we believe this will make the portfolio highly compelling for a range of investors.
“According to Knight Frank, transactions in the UK’s PBSA market surged at the end of 2020, resulting in £5.91 billion of assets being traded last year. The sector has consistently shown resilience in times of economic uncertainty thanks to a unique occupational market driven by the quality of the UK’s higher education system.”
Date published: 6 September 2021