The administrators have put a fully operational 244-bed purpose-built student accommodation (PBSA) scheme in Preston up for sale for £9.75m.
FRP Advisory has appointed the student property team at Knight Frank to market the Friargate Court scheme, which is located on Market Street West.
Delivered in 2016, the scheme comprises cluster en-suites and studios and the on-site amenity provision includes a gym, communal lounge and games area and retail space.
Toby Thomas, associate in the student property team at Knight Frank, said: “Friargate Court offers a rare opportunity to acquire a well-located, operational PBSA asset at an attractive price point, in a market where supply still doesn’t meet demand. The scheme is experiencing strong letting momentum as it approaches the next academic year, and there is a clear opportunity for investors to drive leasing performance and grow income through hands-on asset management. The scheme can also accommodate key workers and apprentices which further enhances its appeal and offers income diversity.”
