DTZ, part of UGL Services, has advised the University of Leeds on the freehold disposal of its student residences at Clarence Dock, which have been acquired by Liberty Living for £23 million.
The sale includes a nomination agreement which means the residences will continue to be available for the University’s students for the next 15 years. The 612 bed site will be renamed Liberty Dock.
Andrew Smith, Director of Corporate Real Estate Consulting at DTZ, commented: “There has been a considerable amount of activity in the student residential market in Leeds recently and this sale follows some important strategic thinking about how the University can make rooms available to students in the long-term. We are very pleased with the sales process, and the outcome.”
Ian Robertson, Head of Residential Accommodation at the University of Leeds said: “Liberty Dock is a core part of our accommodation provision for students. Its sale, with a nominations agreement will allow us to invest the proceeds in the development of brand new residential accommodation at one of our own retained sites, whilst still ensuring that accommodation is also available to us at Liberty Dock in the long-term. It is particularly pleasing to be in partnership with a private accommodation provider whose brand represents the quality of service that we wish to deliver to our students.”
Liberty Living is the exclusive brand of the Brandeaux Student Accommodation Fund which currently owns and manages 15,000 beds for university students across 40 residences in 17 UK cities.
