Unite Students, the UK's leading manager and developer of student accommodation, announces that Unite Students Accommodation Fund (USAF) has acquired Brass Founders in Sheffield for £35.5 million (Unite share £8.4 million).
Brass Founders is located on Scotland Street, a few minutes' walk from both the University of Sheffield and Sheffield city centre. The 437 beds are fully let for the 2017/18 academic year.
The acquisition supports Unite's strategy of aligning alongside high quality Universities in the UK. The University of Sheffield is ranked 13th in the UK in the 2018 Times Higher Education rankings and was awarded a silver Teaching Excellence Framework (TEF) rating.
Richard Simpson, Group Property Director at Unite Students said:
"This acquisition demonstrate our strategy of building and acquiring quality student property close to high-ranking universities, where student numbers are growing. We have strong existing relationships with universities in Sheffield and we are confident that Brass Founders will provide students with a quality, affordable home in a great location."
For further information, please contact:
Joe Lister, Chief Financial Officer Tel: +44 117 302 7005
Candice Macdonald, Head of Communications Tel: +44 7525 592521