St Stephen’s House Oxford has sold the freehold of a 37-bedroom student accommodation asset off Cowley Road in Oxford to Corpus Christi College Oxford for an undisclosed price.
Moberly Close was sold for ‘significantly above’ the guide price following ‘intense interest’. The site comprises 14 apartments and four terraced houses, providing 37 bedrooms across 11,854 sq ft of accommodation on a 0.7-acre plot. It sits to the east of Oxford City Centre in the Cowley neighbourhood, between James Street and Marston Street.
Colin Summers, partner, capital markets at Bidwells, which acted on the sale, said: “This was a rare chance to acquire a site of this scale in central Oxford. We’re pleased to have brought together two Oxford educational institutions on a transaction that keeps Moberly Close as accommodation for students.”
Harri Williams, principal of St Stephen’s House, added: “We are delighted that Moberly Close will continue to be a home for students in Oxford. This sale means that St Stephen’s House can invest in our ministry to offer formation and education for ordained and lay ministry. Our intake of Church of England ordinands this year is the highest we have seen for some years, and we look forward to stewarding wisely for the benefit of the church the funds which this sale makes available.”
Luke Webster, bursar of Corpus Christi College, said: “This acquisition presents the college with transformative opportunities to create an enduring addition to Corpus: enabling the college materially to enhance the academic, residential, social, pastoral and wider collegiate experience it offers. This is a once-in-a-generation purchase for the college and followed the most careful deliberation. We are further gladdened that the proceeds will remain within the wider sphere of education, research, and religion in Oxford, consistent with the principles and purposes of our own foundation.”
