UK student digs developer Fusion Students is selling four purpose-built student accommodation schemes in Newcastle, Nottingham, Cardiff and Bristol for £232 mln (€265 mln).
Known as The Stellar Portfolio, the properties are being marketed by Knight Frank on a global basis.
The newly built accommodation comprises more than 1,850 bedrooms and offers a combined total gross income of about £16 mln per year, or a 5.4% net initial yield.
Sam Ball, partner and head of property transactions at Fusion Students, said: 'We have assembled and stabilised a best-in-class portfolio across a selection of the UK’s key regional university cities. The sale of The Stellar Portfolio will enable us to propel the business into its next phase, helping to drive ambitious plans for future development.'
James Pullan, head of Student Property at Knight Frank, said he anticipates offers from all four corners of the globe. 'The opportunity offers access to one of the best performing asset classes of recent years in terms of rental growth, liquidity and yield compression. Despite a number of new purpose-built student schemes set to complete in 2018/19, across the UK as a whole, full-time students outweigh current PBSA bed spaces by three to one.'
