The Hayaat Group, a private investment company headquartered in Abu Dhabi, has completed the sale of The Green student housing facility in Bradford to a private Kuwait-based fund for over £40 mln (€46 mln).
The Hayaat Group, a private investment company headquartered in Abu Dhabi, has completed the sale of The Green student housing facility in Bradford to a private Kuwait-based fund for over £40 mln (€46 mln).
Conceived in 2005 under the then Labour Government’s Urban Regeneration Scheme, the Green is part of the £750 mln investment to redevelop the Learning Quarter in Bradford.
The development includes a £150 mln Sustainable Student Village for the University of Bradford, of which The Green formed the first phase.
The Green was completed in 2011, funded by the Hayaat Group as lead investor, and Welbeck Land, the development arm of Howard de Walden estate, with a contribution from the public sector. Debt finance was provided by the Royal Bank of Scotland.
The scheme provides accommodation for 1,026 students and has achieved an 'Outstanding' rating under the BREEAM rating scheme.
The Green represents the first stage of the Hayaat Group’s commitment to the £750 mln Learning Quarter. Development of the Listerhills Sustainable Student Village, expected to be worth up to £150 mln, is proceeding apace, Hayaat said.
