The portfolio which was sourced by Generation on behalf of the fund consists of 1,691 student accommodation beds and 14 residential units, all of which have planning consent .
The portfolio comprises
Caledon House, Aberdeen – 199 beds
Balley Fields, Sheffield – 543 beds
Market Street, Newcastle – 225 beds
Midland Road, Bath – 108 beds
Oxford House, Bournemouth – 486 beds
Between Towns Road, Oxford – 144 beds
Each scheme will be developed and built by Watkins Jones whilst Generation Estates will have input into the detailed design of each project. All of the assets will open in time for the 2018/19 academic year, save for Oxford which will open the following year.
Mark Watkin Jones, chief executive of Watkin Jones, said: “We are delighted to announce that we have successfully completed the sale of a portfolio of six student accommodation developments to Europa Generation for a gross development value of £165m. The group has now forward sold all of its developments that are planned for completion by September 2018.
Alan Artus, Director of Generation Estates said: ” We are pleased to have originated this significant transaction to seed the Europa Generation student accommodation fund.”
