Summary:
- Union Property Developments is set to sell Citi View, a purpose-built student accommodation (PBSA) in London Paddington, for over £191 million. The 357-bed scheme, refurbished since acquisition from the University of London in 2022, has been operational since the 2024/25 academic year under Prestige Student Living.
- Citi View generates a projected gross income of £11.2 million for 2025/26, rising to £11.4 million in 2026/27, supported by a partnership with Londonist DMC Ltd. Its location offers close access to more than 42 higher education institutions in London, including key Russell Group universities within a 20-minute commute.
- The sale highlights strong investor demand amid London’s undersupplied PBSA market, where 74% of students lack access to purpose-built accommodation. With 476,000 full-time students and a rising international student population, Citi View presents a rare, institutionally scaled asset in a prime Zone 1 location.
Original article:
https://www.propertywire.com/news/191m-student-accommodation-up-for-sale-in-central-london-market/
