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NJOY Student Living Acquires Leeds Accommodation

Posted by Richard Ward in

Image courtesy of Flickr, Creative Commons

NJOY Student Living has purchased a 298-bed student property in Leeds for £11.65m.

The deal was facilitated by £15.6m of funding secured through Cowgill Holloway's property finance advisory team.

The latest purchase takes the number of beds under management to more than 500 across both Manchester and Leeds.

Commenting on the acquisition, Jason Worral of NJOY, said: "This represents a step change for our business in terms of increase numbers of beds and diversification into one of the UK's most popular student markets. Carr Mills was a good fit for us and this funding facility, together with Cowgill's invaluable support, has enabled us to bolster our portfolio with a superb offer in another hugely popular University city."

"Having built a solid portfolio, we began looking at how we could diversify into other northern University cities such as Liverpool, Leeds, Sheffield and even as far as York. It was important that all of our properties offer the highest possible quality of accommodation as well as remaining accessible to the team for service and maintenance and Carr Mills at Leeds was the perfect fit."

Cowgill Holloway has worked with NJOY since the company's inception and helped in securing the original funding for the purchase of its existing portfolio.