Sanctuary Group have released a press release announcing the sale of its Bagot Street accommodation block in Birmingham to property investment firm Arlington Investment.
The group's student housing arm Sanctuary Students will continue to manage the site near Aston University Campus until the 30th of June. The development will then be turned over Arlington who will in turn give control fo the site to Campus LIving Villages who will run the accommodation on their behalf.
The purchase includes 656 student rooms and an undeveloped site nearby that also has planning permission for a student development.
Nathan Warren, Director-Commercial at Sanctuary Group has said of the sale, Â“The favourable market conditions made this the right time to realise the benefit of our work and channel the proceeds into Sanctuary Group's next phase of growth and development.Â”