A prominent office building in Leicester city centre is poised to become student accommodation following its purchase by student accommodation developer and operator, Study Inn Group.
In a sale advised by global estate agency Cushman & Wakefield, the vacant Reynard House was purchased for an undisclosed amount and lies within walking distance to the nearby railway as well as both the University of Leicester and De Montfort University.
Joe Williams, Associate in Cushman & Wakefield’s residential team, said: “The sale is further evidence of the strong demand for residential and student development opportunities within the East Midlands. Study Inn will undoubtedly deliver high-quality student accommodation, ideally located for De Montfort’s students.”
Reynard House has full planning permission for conversion to residential use, with aspirations to provide 79 high-quality student apartments.
Study Inn Group current manages 2,000 serviced rooms in major university towns and cities including Coventry, Nottingham, Cambridge and Bristol amongst others.
Commenting on the sale, Study Inn’s Acquisition Manager, Jack Jefferson, said: “This this is another well-located building in a good university city, and we are very pleased to be adding it to our portfolio.”