Cardiff student accommodation scheme bought for £5.5m
A student accommodation complex in Cardiff, which when completed will have nearly 300 rooms, has been acquired in a £5.5m investment deal.
Crosslane Student Developments, part of the Crosslane Group, has sold its purpose-built student accommodation development, which is under construction at Oxford Street near to the city centre to Knightsbridge Student Housing.
Upon completion of the development, in September next year, the site will be operated by The Student Housing Company (Knightsbridge) on a direct-let basis.
The freehold to the site was acquired by Crosslane Student Developments in April this year.
The main contractor Midas Group, engaged by Crosslane Student Developments, will continue in this role under Knightsbridge’s ownership.
Works commenced in April to develop the property into 164 en-suite cluster flats and 117 studios of various sizes, together with communal space for students ..