Bond Wolfe has arranged the sale of an 83-bedroom purpose-built student accommodation (PBSA) development in Worcester, for £2.51m to a private investor on behalf of the business’s joint receiver Kroll.
Sansome Hall, a five-story PBSA scheme in the city centre, is currently 89% let, generating £451,200 in annual rental income. Built-in 2008, the building is arranged in cluster flats of six to ten rooms, each with a shared communal kitchen and dining area.
Samsone Hall is around 0.25 miles from the University of Worcester’s City Campus, and St John’s campus is 1.4 miles away. The new owner plans to retain the property long-term, with goals to increase rental income through asset management.
“After a competitive bidding process, we are delighted to have successfully sold Sansome Hall on behalf of the joint fixed charge receiver.
“This successful sale followed a robust marketing campaign, with interest received from a wide pool of buyers attracted by the strong annual income and potential for further growth.”
James Mattin, Managing Director, Bond Wolfe
