Jensco sells Ten Traffic Street PBSA asset to IQ

The Jensco Group announces the sale of Ten Traffic Street, a purpose-built student accommodation asset in Nottingham.

Ten Traffic Street student accommodation development. The Jensco Group has sold the scheme to iQ Student Accommodation | PBSA News
Ten Traffic Street student accommodation development. The Jensco Group has sold the scheme to iQ Student Accommodation.

Property development company The Jensco Group exchanges contracts for the sale of Ten Traffic Street in Nottingham, a purpose-built student accommodation (PBSA) asset.

Ten Traffic Street has been sold to iQ Student Accommodation – one of the UK’s leading providers of student housing, which is 100% owned by funds managed by Blackstone. The deal is expected to complete at the end of June 2023.

PBSA property agency Harris Associates acted on behalf of The Jensco Group on its disposal. With a track record of executing market-leading sell-side strategies, Harris Associates is currently instructed on over £750m of UK PBSA projects. 

“The sale of Ten Traffic Street, one of the first PBSA asset disposals in 2023, demonstrates the resilience of the PBSA sector. We are delighted that Harris Associates were trusted by Jensco to deliver a market-leading transaction. High-quality PBSA assets continue to be extremely popular with investors thanks to a continued growth in student demand and a lack of high-quality supply.”

Jamie Harris, Head of Student Accommodation, Harris Associates

Developed by Jensco, Ten Traffic Street opened in September 2022 following planning approval in July 2020. The scheme includes 522 student beds and has been thoughtfully designed around wellbeing and community. Amenities include generous study spaces, lounge areas, a roof terrace and outdoor courtyards, a cinema, coffee shop and private dining space. 

Ten Traffic Street | PBSA News
Ten Traffic Street.

Located adjacent to the University of Nottingham’s new Castle Meadow campus and close to Nottingham Station, the Ten Traffic Street development was 99% leased on opening, which demonstrates the strength of the asset and its location within the Nottingham student accommodation market. 

Nottingham is the fifth largest student market in the UK, home to the University of Nottingham, part of the Russell Group, and Nottingham Trent University, the third largest university in the UK by student numbers. 

“Jensco is proud to have delivered an exceptional PBSA development in a vibrant city centre location, close to two world-class universities. Adjacent to the University of Nottingham’s new Castle Meadow campus, the scheme has been extremely successful since opening in September 2022 and we are delighted to have sold the asset to leading PBSA operator iQ Student Accommodation.” 

Nigel Bobroff, Co-Founder, The Jensco Group

The Jensco Group is a specialist property development company with a long track record of identifying and creating high-quality PBSA, academic and residential-led developments with a focus on design, community and sustainability, in emerging and under-supplied locations. 

Launched in 2002, Harris Associates has advised on property transactions over £15bn globally. Since 2021, the company has undertaken over £2.5bn in transactions, including advising on the £1.5bn joint venture between Fusion Students and Cain International.