Private equity firm Henley is on the verge of snapping up a portfolio of more than 1,500 student beds from Liberty Living for more than £50m, Property Week can reveal.
The firm has exchanged contracts on a deal to buy six student blocks across three cities: Liberty Court, Liberty House and Liberty Works in Sheffield; Liberty Court and Liberty Village in Preston; and Liberty Court in Stoke-on-Trent. The developments comprise 1,519 beds in total.
The deal is understood to be worth between £50m and £55m and is due to complete next week. It will leave Liberty without any stock in the three cities.
“Henley has been committed to capitalising on the opportunity currently available in the student accommodation space since autumn 2016 and we plan to further increase our holdings in this market over the coming year,”
said Henley chief executive Ian Rickwood.