Quadrant Hall – which houses up to 105 students in flats of seven or 14 – has been sold to a Chinese investor in an off-market deal negotiated by Bromwich Hardy partner James Brookes.
The 34,000 sq ft former YMCA building, in Manor House Drive, will continue to be operated as student accommodation under the deal.
James said the deal demonstrated the strength of the secondary stock market beginning to develop in the city and the scale of the change in the student accommodation sector in just a handful of years.
“The Coventry student accommodation market has changed immeasurably over the past six years, with a pipeline of accommodation delivering around 10,000 new bed spaces in the city centre, backing up the educational offering from Coventry University as one of the top institutions in the country.
“Bromwich Hardy has been at the forefront of the market, helping to deliver around 3,000 new bed spaces and disposing of nearly £30 million of student developments and stock last year.
‘Working in conjunction with the university, we have helped to dispose of the majority of their older stock, in many cases reverting previously-used HMOs (houses in multiple occupation) back to residential.
“The latest sale of Quadrant Hall for continued use as student accommodation shows there is now a strong secondary stock market starting to emerge in the city.”
Prior to the sale the building had been owned and operated by the university for the last 20 years.
"Bromwich Hardy has been at the forefront of the market, helping to deliver around 3,000 new bed spaces and disposing of nearly 30 million of student developments and stock last year. "
DISCLAIMER: The statements, opinions, views and advice expressed in this article are those of the author/organisation and not of ENTIRELY. This article should represent information correct at the time of publication however whilst every care has been taken to present up-to-date and accurate information, we cannot guarantee that inaccuracies will not occur. ENTIRELY will not be held responsible for any claim, loss, damage or inconvenience caused as a result of any information within this article or any information accessed through this site. The content of any organisations websites which you link to from ENTIRELY are entirely out of the control of ENTIRELY, and you proceed at your own risk. These links are provided purely for your convenience and do not imply any endorsement of or association with any products, services, content, information or materials offered by or accessible to you at the organisations site.