Opal sites handed to new manager

Joint administrators David Crawshaw and Rob Croxen from KPMG have appointed Derwent Students to operate four Opal student accommodation properties in Liverpool, Wrexham, Nottingham and Sheffield.

Derwent will manage and maintain the buildings, market places to domestic and international students and handle all bookings and tenant services.

The move follows the administrators' appointment last month to six Opal companies which separately own the four student accommodation developments, a residential building and a land asset.

David Crawshaw, joint administrator and restructuring partner at KPMG, said: "The appointment of Derwent will ensure that the four high quality student accommodation sites continue to attract and support new and existing domestic and international students, and help to meet the strong demand for accommodation near the cities' universities. We have appointed Derwent due to its strong market reputation and to ensure that we continue to provide a high level of service to the students.

"Having stabilised operations at the six companies, we have received significant interest in the portfolio to date. We have appointed Savills to market the assets for sale."

Martin Corbett, managing director of Derwent, said: "Derwent Students will continue to enhance the student experience through letting and managing these high quality assets to an exceptional standard. We will also utilise our status as a housing association and our financial strength to attract interested parties and support the sale process."

The appointments of David Crawshaw and Rob Croxen relate to the following businesses and locations:

  • Opal Aigburth, Aigburth Park, St Michaels Road, Liverpool
  • Opal Condor, Devell House, Wilmslow Park, Manchester
  • Opal Wrexham, Snowden Hall, Vicarage Hill, Wrexham
  • OGSC, land asset in Sheffield
  • South Yorkshire One, 3-80 Hoyle Street, Sheffield
  • Opal Nottingham, St Peter's Street, Radford, Nottingham

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