Major Derby student scheme sold for £8.6m

A major student accommodation scheme in Derby has been sold for £8.6m.

Roman House, a 126-bed, 99-room student housing development in Friar Gate, Derby, has been bought by Northridge Capital from Catalyst Capital.

Roman House opened in September 2016 following the conversion of the existing office building to provide high-quality student accommodation comprising 72 studios and 54 ‘twodios’, totalling around 37,480 sq ft over two floors.

Matthew Beech, National Capital Markets at Colliers International, said: “We are seeing great interest from investors for high-quality student housing stock, that offers strong underlying fundamentals and strong income. Roman House is a great example of one such high-quality student housing development that is set to deliver strong returns for Northridge Capital well into the future”.

Colliers International advised Northridge Capital. JLL advised Catalyst Capital.