Riverside Capital has completed another purchase for the Student Housing Portfolio in the second of its target cities, Newcastle.
3-6 Portland Terrace – comprising eight, five and six bedroom apartments spanning a continuous row of four properties – was purchased by Riverside Capital investors for £2,925,000 million, or £66,477 a room.
All of the properties are currently let and 38 of the 44 bedrooms are also let for the forthcoming 2019-2020 academic year, with good interest in the remainder.
Sitting within the upmarket Jesmond area of Newcastle, the properties are just 14 minutes’ walk from Newcastle University and 10 minutes walk from Northumbria University.
The apartments currently generate a strong income and there is potential for good rental growth via an active asset management campaign.
The next phase of acquisitions will focus on Cardiff.
If you are interested in investing in the Student Housing Portfolio, or would like to know more about this and/or other investment opportunities, please contact a member of the team.