Urbanite puts UK living portfolio on the market for €150m

Urbanite Living has put a portfolio of five, freehold, purpose-built student accommodation (PBSA) assets in the UK up for sale, with an asking price of £130 mln (€152 mln).

The landlord has hired Gerald Eve to market the assets which comprise 999 beds and are located in the student cities of Leeds, York, Sheffield, and Glasgow.

The portfolio offers a combination of existing operational assets and new build schemes due for occupation during 2024.

Urbanite has developed the portfolio over the last five years and is now selling the assets to recycle capital into its next ventures.

'We are excited to bring this portfolio to market after five years of regenerating disused properties or land. We are looking forward to selling this prime investment opportunity to support our next series of exciting development projects,' Urbanite said in a statement.

Alexander Kitts, associate partner at Gerald Eve, added: 'We are pleased to represent Urbanite in marketing a very strong portfolio of assets in key performing university cities of international repute. The student housing market is highly resilient as demonstrated by its counter-cyclical nature with student numbers growing at record rates across the nation. Subsequently, purpose built student accommodation (PBSA) is underpinned by a strong occupational market, which continues to attract a wide range of investors.'

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