View guides

Edinburgh Scheme Sold for £10 Million

Posted by Richard Ward in ,

Image courtesy of Flickr, Creative Commons

A student accommodation block in Edinburgh has been sold in a deal worth £10 million.

The 148-bed Meadow Court at Sciennes in Edinburgh has been sold by St Regent Limited Partnership to the London-based company McLaren Property.

The real estate group Crosslane advised on the deal, with Prime Student Living continuing to manage the student block on behalf of McLaren.

Meadow Court was bought by St Regent in 2011 before being refurbished in 2012.

Co-founder and director of Crosslane, James Metcalf, said: "Crosslane is pleased to have advised St Regent on the sale of Meadow Court in Edinburgh, successfully generating returns to St Regent's investors through hands-on management and operational expertise, which has increased the property's asset value since 2011.

"The supply-demand fundamentals for student accommodation in Edinburgh persists and Crosslane continues to grow its identified pipeline of potential student accommodation investments in the city and other prime university cities in the UK and Continental Europe."