Developers Jensco Sell Nottingham Asset for £68m

iQ Student Accommodation has acquired a large purpose-built student accommodation scheme in Nottingham from property developers The Jensco Group.

Owned by alternative investment managers Blackstone, iQ Student Accommodation has added an additional 522 beds to its growing portfolio with this latest addition.

The Ten Traffic Street scheme was 99% leased upon opening last September.

Nigel Bobroff, the co-founder of The Jensco Group, praised the asset and its prime location near two universities, saying he was "delighted" to have sold the property to a leading operator.

Mr Bobroff commented: "Jensco is proud to have delivered an exceptional PBSA development in a vibrant city centre location, close to two world-class universities. Adjacent to the University of Nottingham's new Castle Meadow campus, the scheme has been extremely successful since opening in September 2022 and we are delighted to have sold the asset to leading PBSA operator iQ Student Accommodation."

Harris Associates acted on behalf of Jensco in the transaction, with Jamie Harris, head of student accommodation, calling it a "market-leading transaction" that underlines the popularity of high-quality PBSA assets with investors.