Edinburgh University Buys Its Own Flats

“ Student flats in Edinburgh have been sold for an undisclosed sum to Edinburgh University in a deal structured by Ryden for PriceWaterhouseCoopers, the Joint Receivers of Applecross Investments (Edinburgh) Limited. ”

Share on            

Email Friend     Contact Author

(iRealtyWire.Org) – Student flats in Edinburgh have been sold for an undisclosed sum to Edinburgh University in a deal structured by Ryden for PriceWaterhouseCoopers, the Joint Receivers of Applecross Investments (Edinburgh) Limited.

The sale means that Edinburgh University now owns the 15 flats at Causewayside and Blackwood Crescent that it previously leased, providing accommodation for 71 first year postgraduate students. The property is located in close proximity to Pollock Halls, Edinburgh University’s flagship accommodation, and forms a key part of their self catered accommodation provision for postgraduate students.

John Morton of Ryden said: “Demand for student accommodation investments in prime residential areas remains strong and this was demonstrated by the significant interest generated in the property from a wide variety of parties including property companies, private investors and the University. The deal represents both a good result for our client and for the University, which now owns its own accommodation.”

Lindsays WS represented Edinburgh University.

Applecross, a former luxury homes developer, went into Receivership last year.

-ends-

Notes to Editors

Ryden is an independent commercial property firm operating a full-service practice. Service lines include Agency & Development, Investment & Finance, Professional, Building Consultancy, Property Management and Consulting.

The firm is headed by Fiona Morton, Managing Partner, with around 140 people, including 31 partners and 21 associates.

Ryden has offices in Edinburgh, Glasgow, Aberdeen, Leeds, Dundee and Inverness.

Some recent awards include:
• Property Week’s Industrial Agency Team of the Year (Scotland) 2009
• EGi’s Most Active Agent in Scotland 2009
• EGi’s Most Active Industrial & Distribution Agent in Scotland 2009
• EGi’s Most Active Office Agent in Scotland 2009

For more information see www.ryden.co.uk