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90 North Acquires Schemes in Edinburgh and Leicester

Posted by Richard Ward in

Image courtesy of Flickr, Creative Commons

Two blocks of student accommodation located in Edinburgh and Leicester have changed hands as part of a £22 million acquisition by 90 North Real Estate Partners and Rasameel Investment Company.

The first scheme, dubbed Goods Corner, sits opposite the University of Edinburgh's King's Buildings engineering campus, whilst the second is in Dover Street in Leicester.

Both sites were sold by the developer Aimrok to 90 North Real Estate Partners, in partnership with Rasameel Investment Company.

The PBSA in Edinburgh consists of 108 studio beds, whilst the scheme in Leicester has 135 bed spaces. Both of the assets were built in 2018 and have so far been 100% let.

Commenting on the deal, John Yeens, partner at 90 North Real Estate Partners, said: "These two new properties are in core locations and provide housing to high-ranked universities in under-supplied markets. With structuring to ensure continuity of income to cover this current period of occupational uncertainty, we expect these investments to deliver strong performance."

Both of the sites will be managed and operated by Homes for Students.