Asian investors snap up student accommodaton development in £15m deal
A 140-bed purpose-built student accommodation development in Birmingham has been sold in a deal worth £15m.
Birmingham Properties Group has sold Bromsgrove House to the Singaporean investor Perfection Point. The sale price reflects a value of £104,000 per bed space and a net initial yield of 6.42%.
The PBSA scheme has an estimated gross student income of £1,252,499 for the 2017/18 academic year, additionally to this, the ground floor retail unit (3,282 sq ft) is leased for £40,000 per annum.
Bromsgrove House, which was co... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
