A new student accommodation scheme in Leeds has sold out two months ahead of its completion after it attracted demand from a wide range of national and international investors seeking long-term income generation.
Trinity Halls consists of 93 high-spec new-build apartments located within a gated community and comes equipped with a gym, social room, laundry facilities and barbecue area. It's located in the Woodhouse area and is just minutes away from Leeds University.
The development, which attracted investors from the UK, Middle East and Africa, is the first purpose built student accommodation by Trinity Developments and is due to be completed in September.
The property agent responsible for selling the apartments was Benoit Properties, which suggested that the fall in the value of the pound following the EU referendum had proved to be a bonus for some overseas investors who paid less in real terms than they anticipated.
It was also suggested that demand for Trinity Halls will be high given the high quality finish of the development and the shortage of student housing in Leeds. The apartments are said to be substantially larger than the average student accommodation, ranging from 21 sq m to 43 sq m.
The development will be managed by Niche Homes with en-suite rooms starting from £130 pw.