iQ Student Accommodation, a UK student housing provider owned by Blackstone, is acquiring a 522-bed asset from The Jensco Group for £68.12m (€77.4m).
Developed by Jensco and opened for the 2022/23 academic year, Ten Traffic Street offers a full-suite of services, thoughtful design – centred on wellbeing and community – and comprehensive amenities including generous study spaces, a roof terrace and outdoor courtyards, cinema, lounge areas, coffee shop and private dining space.
Located adjacent to the University of Nottingham’s new Castle Meadow campus and close to Nottingham Station, the Ten Traffic Street development was 99% leased on opening, which demonstrates the strength of the asset and its location within the Nottingham student accommodation market.
Nottingham is the fifth largest student market in the UK, home to the University of Nottingham, part of the Russell Group, and Nottingham Trent University, the third largest university in the UK by student numbers.
The sale of Ten Traffic Street, one of the first PBSA asset disposals in 2023, demonstrates the resilience of the PBSA sector.
