Student block changes hands in multimillion-pound deal

A student accommodation block in Worcester has been sold for £2.51m to a private investor.
Sansome Hall, a five-story purpose-built residence in the city centre, was sold on behalf of joint receivers at Kroll by Bond Wolfe.
The property is currently 89% let, generating £451,200 in annual rental income.
Built-in 2008, the building includes 83 en-suite student bedrooms and a warden’s flat, arranged in cluster flats of six to ten rooms, each with a shared communal kitchen and dining area.
The new owner plans to retain the property long-term, with goals to increase rental income through asset management.
James Mattin, managing director of Bond Wolfe said: “After a competitive bidding process, we are delighted to have successfully sold Sansome Hall on behalf of the joint fixed charge receiver. This successful sale followed a robust marketing campaign, with interest received from a wide pool of buyers attracted by the strong annual income and potential for further growth.”