CityBlock has transferred ownership of a pair of purpose-built student accommodation (PBSA) developments in Reading and Lancaster to an Oxford-based investment company.
Repurposed from a 1960s office building, Berkshire House in Reading has been managed by family-owned CityBlock since opening in 2017 and currently houses 145 students. Earlier this year, CityBlock also sold the Gillows scheme in Lancaster, which opened in 2019 with capacity for 96 students.
CityBlock is no longer responsible for the management of the building, with all aspects of management having transferred to Homes for Students in early July.
“With Berkshire House, we had the opportunity to work with architects to design and build student accommodation that was truly fit for purpose.
“To be able to design a facility purely with students in mind was an incredible privilege and a responsibility we took seriously.
“On opening, the reaction was just what we’d aspired for, but now it is time to pass the building on to new owners.”
Trevor Bargh, Chief Executive, CityBlock
CityBlock also retains the ownership and management of another two developments in Lancaster on Penny Street and Marton Street, which together house over 130 UK and international students, as well as four commercial tenants.
“Transferring ownership of the properties is not a decision CityBlock has taken lightly.
“Yet, knowing we have provided thousands of students with the highest quality facilities and amenities for many years gives us peace of mind that we are leaving behind a very worthwhile legacy.”
Alison Bargh, Operations Director, CityBlock
CityBlock are experts in managing and developing high quality student accommodation schemes. With over 20 years’ experience in the sector and schemes ranging from 30 to 200 bedrooms, each property is expertly managed and maintained to maximise asset values, with a keen focus on delivering outstanding levels of customer service.
