Georgian Quarter student blocks bought by Hong Kong investor
Knight Frank’s student property team has sold Agnes Jones House and Bedford Street South in Liverpool on behalf of receivers GVA, for more than £14m.
The student accommodation blocks have been sold to a Hong Kong-based client of Estate Office Property Consultants. The buildings total 370 bedrooms, and are based near to both The University of Liverpool and Liverpool John Moores University’s Mount Pleasant Campus.
The sale price reflects a net initial yield of 6.5% and a capital value per room of £38,000.
Rents are currently set at an average of £105/week for each student.
Josh Woolley, senior surveyor at Knight Frank Student Property, said: “The transaction demonstrates continued demand from international investors to gain exposure to the UK student accommodation market. It also illustrates the demand for schemes showing affordable price points, with a demonstrable trading history and ‘value add’ asset management potential.”
top of the market price, good time to sell….
By F1_Fan
They should knock it down and build some high spec town houses…if only!
By Tina
Hardly top price for student property. They sell for a lot more. I have even seen them re-branded as ensuite cluster bedrooms, on the market at £45k each. ARF!
By Verum
It’s a gorgeous building, why knock it down Tina?
By Kayla Bibby
@kayla because I think there are better uses for the site
By Tina
It will be listed!
By Billy
Tina do you have any idea what this site comprises? You sound somewhat ill informed. Demolish the site to Bedford Street, I would agree. But the main former hospital building? You sound like a town planner from Runcorn in the 1970s
By CMW
This building is gorgeous. It looks like a wing of Kensington palace.
By Elephant