Nottingham Asset Sold for £68m by Developers Jensco
|19 April, 2023
The Jensco Group, property developers, have offered a huge purpose-built student housing scheme in Nottingham. They have offered it to iQ Student Accommodation.
iQ Student Accommodation, which is originally owned and run by Blackstone, has increased the number of beds by 522. Blackstone, the alternative investment manager, is adding to its always-growing portfolio with this newest addition. In addition, Ten Traffic Street had a huge amount of rent immediately after its opening in September, with a percentage of 99%.
The building got a lot of praise from everyone, including Nigel Bobroff, the co-founder of the Jensco Group. Bobroff admired its close proximity to two important universities, saying he was more than happy and proud to have sold the property and have it help people.
"Jensco is proud to have delivered an exceptional PBSA development in a vibrant city centre location, close to two world-class universities. Adjacent to the University of Nottingham's new Castle Meadow campus, the scheme has been extremely successful since opening in September 2022, and we are delighted to have sold the asset to leading PBSA operator iQ Student Accommodation." Nigel Bobroff said
This purpose-built student accommodation has caught the attention of a lot of people. Everyone is ecstatic about having a new accommodation that will help students settle in and join the university of their dreams.
Harris Associates, on behalf of Jensco, called it a “market-leading transaction," which signifies the importance of this new student accommodation in Nottingham. This remark was made in the presence of Jamie Harris, head of student accommodation.