Nottingham student flats sold for £3.25m

A student property portfolio in Nottingham has been bought by a unnamed London investor in a deal worth £3.25m.

The nine multiple occupancy properties are in Lenton and the Arboretum. They will accommodate more than 50 students and generate £264,731 per annum in rental income, with a yield of 8.1%.

Michael Sahota, from MS Estates, which brokered the deal, said: “We were approached by the seller of the properties directly. I think that he was a little surprised to learn what the market was like and what he could achieve.

“We told him that we had clients who would purchase the portfolio and do so with no fuss. We have the knowledge, experience and team who can deal with all types of transactions.”

Sahota added: “The seller of the nine properties is a highly respected landlord in Nottingham who has continued to refurbish the properties over the last ten years, taking them back to their original brickwork and finishing to a high standard with quality furniture and fittings.”

Lucy Barlow, lettings manager at MS Estates, said: “This sale reflects the increasing student expectation of housing in recent years. More of them are willing to pay a premium in rent for better quality accommodation, and this buyer will not only provide that in the finish of the houses but in the management of them also.”