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New Scheme to be Leased by The University of Bristol

Posted by Richard Ward in ,

Image courtesy of Flickr, Creative Commons

A new block of student accommodation in Leeds has been sold to a German real estate fund.

F3Group has finalised the forward sale of a scheme in Redcliffe for £57million. Consisting of 357 beds, the accommodation is due to complete in the third quarter of next year.

In addition to 322 en-suite cluster bedrooms and 35 studios, the scheme will also feature a gym, study space, bike parking, cinema room and a communal lounge.

The University of Bristol is understood to have taken the building on a long-term lease.

Commenting on the deal, Gavin Gleave, chief executive of F3Group said: "F3 has an outstanding reputation built over the past 30 years for managing and developing high-quality schemes across multiple sectors. This strategic exit demonstrates that even in tough economic conditions there is still strong demand from market leading investors for long term income assets."