Student tower with roof terrace, 'Sky Sanctuary' and festival zone sold

A student accommodation block in Salford, which features a panoramic roof-top terrace, a "Sky Sanctuary" communal study space and a festival zone, has been sold for almost £70m.

The joint venture, which was established in 2021, now controls 2,571 student beds across five assets in Liverpool, Glasgow, Birmingham and Salford. "Months ahead of completion, this great asset had already reached 100% occupancy, which is testament to this high demand but also the growing popularity of our true student properties and the unique experience they offer our student guests.

Kristian Smyth, managing director at Tristan Capital Partners, added: "UK PBSA continues to be one of our high conviction investment themes and we are delighted to add this high-quality asset to our existing platform.

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