Leeds Pennine House bought for £17.8m

Leeds Pennine House bought for £17.8m

Student accommodation property Pennine House, in Leeds city centre, has been purchased by The Board of Empiric Student Property plc in a £17.8m deal.

The 127 bed property was developed by the current management of Empiric on behalf of the vendor, British Airways Pension Trust Limited, for the 201314 academic year.

Located on Russell Street, the eight floor complex features high quality bedrooms, alongside communal facilities including a gym, cinema room, study rooms and a common room.

The property also includes a ground floor and basement commercial unity currently let to Living Ventures, trading as Gusto, one of 15 italian restaurants in the UK.

Paul Hadaway, chief executive of Empiric Student Property plc, said:"Pennine House is our third acquisition in Leeds, a Russell Group university city and home to the University of Leeds and Leeds Beckett University, with a full-time student population of over 50,000. 

“Tim Attlee and I know the property extremely well, having developed it on behalf of British Airways, prior to forming Empiric.  The location and quality of the building make it an excellent fit with the rest of Empiric's portfolio.”

 

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