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Northridge Capital Acquire Roman House in Derby

Posted by Richard Ward in

Image courtesy of Flickr, Creative Commons

Northridge Capital has purchased the student accommodation Roman House in Derby from Catalyst Capital for £8.6m.

The residence features 126 student bedrooms and opened in 2016 following the conversion of the existing office building into 72 studios and 54 twodios.

The scheme is located adjacent to The University of Derby Law School and the University's main campus is less than two miles to the north west.

Roman House has reportedly achieved a 100% occupancy rate since opening and is on track to be fully let for the 2018-19 academic year.

Colliers International advised Northridge Capital on the deal. Matthew Beech, National Capital Markets at Colliers International, said: "We are seeing great interest from investors for high-quality student housing stock, that offers strong underlying fundamentals and strong income."

"Roman House is a great example of one such high-quality student housing development that is set to deliver strong returns for Northridge Capital well into the future".