Aprirose has acquired a purpose-built student accommodation (PBSA) scheme in Reading for an undisclosed price.
Central Studios, which provides 141-studios, has been in operation since 2014 and has maintained an occupancy rate of 99%+ post-pandemic.
As a first-generation scheme, it offers the opportunity to undertake a light touch refurbishment to bring the apartments, communal and amenity space up to market standards.
Joe-Man Wan, vice president – investment at Aprirose, said: “This acquisition exemplifies our value-add strategy: investing in proven assets with favourable supply-demand imbalances and unlocking upside potential through thoughtful refurbishment and operational enhancements. Central Studios stands out as a resilient, affordable product, and we are excited to partner with our new operator, Fresh, to deliver a business plan that improves the student offer while maintaining affordability.”
