Three sites of student accommodation in Coventry for sale for a total of £ 16million
Three blocks of student housing in Coventry have been put up for sale.
The trio – two in the town center and one in Earlsdon – are on the market individually but are worth a total price of just over Â£ 16million.
Together, they provide nearly 300 bed places in the city.
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Estate agent Holt Commercial is marketing two of the properties, including Waters Court on Salt Lane in the city center for Â£ 6.25million, and Wells Terrace / Wells Court on Hearsall Lane in Earlsdon, for offers over Â£ 5million of pounds sterling.
Agent Bromwich Hardy is marketing the third Quadrant Hall property on Manor House Drive, which is up for grabs for Â£ 4.8million.
The 34,000 square foot Quadrant Hall is a former YMCA building that houses up to 105 students on eight floors.
It was sold to a Chinese investor in 2019 as part of a “multi-million pound deal” after 20 years at Coventry University.
The Waters Court town center site was built in 2015 and offers a total of 73 en-suite double rooms on four floors.
Earlsdon-based Wells Terrace offers 66 beds in eight grouped apartments and was built about five years ago, while Wells Court is newly built just 18 months ago and offers 28 beds out of five grouped apartments.
In recent years, the city has experienced a student block boom, with the number of bed places increasing from 4,100 in 2012 to 15,000 at the end of 2020.
Since the pandemic, a number of operators have submitted offers to the council to temporarily change the use of buildings for non-students, citing reduced demand from students.
Speaking earlier in the year, housing cabinet member Cllr David Welsh said demand for student properties is expected to remain high despite the trend.
He said: âWe recognize that, for now, the number of students in the city has decreased, but this is only a temporary situation.
âThere is still a demand for student housing and purpose-built housing is important, especially with the growth of universities in the city. “
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