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.”