The University of Edinburgh has put two purpose-built student accommodation (PBSA) assets in the south of the city up for sale.
David Horn House and Kitchener House provide 48 and 60 student beds respectively and are located within walking distance of the university’s King’s Buildings campus.
David Horn House comprises four townhouses combined into a single operational building and Kitchener House is a distinctive former mansion.
The assets have a solid track record of student occupancy and offer the potential for investors to either refurbish and retain them for student use or explore alternative uses, subject to consents. The properties are being marketed on an individual and combined basis.
Damien Toner, director of estates at the University of Edinburgh, said: “Edinburgh remains a highly desirable location of choice for students, residents and visitors alike, with demand for competitive accommodation options consistent across the city. Given their size, character and condition, these sites offer a unique opportunity for developers in a sought-after location, and we are pleased to be working with CBRE to explore the market potential.”
Steven Hendry, director in CBRE’s investment property team in Edinburgh, which has been appointed to market the assets, added: “We are pleased to be working with the University of Edinburgh on this important instruction. These are two distinctive assets in a highly sought-after part of the city, offering both immediate student accommodation use, and clear potential for repositioning. With strong demand in Edinburgh’s student market and the excellent proximity to King’s Buildings, we expect these properties will attract strong interest from a wide range of investors.”
