MCR Property Group has expanded its purpose-built student accommodation (PBSA) portfolio with the acquisition of Clanny House in Sunderland, a 629-bedroom scheme located directly opposite Sunderland Royal Hospital.
Set within 7.6 acres of landscaped grounds, Clanny House comprises 14 purpose-built blocks offering a mix of two- to six-bedroom apartments.
The freehold property lies one mile from Sunderland city centre, with excellent access to the University of Sunderland’s Sir Tom Cowie Campus and the nearby Metro network. The asset previously operated under a long lease to the University and remains in strong condition.
MCR has moved immediately onsite, launching a 14-week refurbishment programme that will see internal reconfigurations, amenity upgrades and brand new furniture installed throughout to align with modern living expectations and regulatory requirements.
“Clanny House is a well-located and well-built asset that fits perfectly within our growing PBSA portfolio. With demand in Sunderland continuing to rise, particularly from both UK and international students as well as key workers, we see strong long-term potential.
“Our team is already onsite, progressing upgrades to deliver a refreshed, high-quality living experience that will support the city’s growing academic and healthcare communities.”
Nick Lake, Asset and Fund Director, MCR Property Group
Student numbers at the University of Sunderland have nearly doubled over the past decade, growing from 11,000 in 2016/17 to over 20,000 in 2022/23, including over 7,000 international students. Meanwhile, Sunderland Royal Hospital employs over 8,500 staff, which MCR says drives consistent local demand for accommodation.
Property consultancy Allsop acted as the seller’s agent on the deal.
