Mansion Group buys student block in £4m deal
A 138-bed student hall in Liverpool has been acquired by Cheadle-based student landlord, The Mansion Group.
It is understood to have paid close to the asking price of £4.5m.
The accommodation, which is close to the University of Liverpool on Smithdown Lane, has a gross annual income of £554,000.
The site was in the hands of receivers at Jones Lang Lasalle. JLL confirmed the sale and described the original owner as a private investor.
Mansion Group was founded by former Caudwell Group finance director Paul Wildes in 2007, although he sold a majority stake in the company in 2009 for £1.9m.
It is now owned by its management team and by property investor Eugene McTaggart, who has the largest single shareholding in the company.
