Loughborough student development sold for £7m

A Leicestershire student flat scheme has been sold by Atlas Land. An undisclosed Middle Eastern Investor bought the 61-bed development for £7m.

The flats are located near to Loughborough University, at Optima, Green Close Lane.

Developed by Watkin Jones it is operated by Fresh Student Living.

Jonathan Devaney, partner in Knight Frank’s Capital Markets team, which acted for Atlas, said: “Loughborough is a strong university town and this asset has performed very well, having been fully let since its completion in 2008.

“We advised Atlas Land on its acquisition in 2016 and, following a change in their objectives, are delighted to have successfully concluded a sale on their behalf to an overseas investor.”

SPS Invest acted on behalf of the purchaser.