PWC asks CBRE to sell student block
CB Richard Ellis has been instructed by administrators on the disposal of Cable Street in Lancaster, a 233-bed student accommodation complex, with offers sought in excess of £9.225m.
Cable Street is located in Lancaster city centre and is 100% let for the current student year and 2010/11, and 50% reserved for 2011/12.
Nick Mullins, director of valuation advisory and investment consulting at CBRE North West, commented: “Student accommodation in Lancaster has previously been dominated by the universities, so Cable Street presents a fantastic opportunity for private sector involvement in what is a lucrative market …