Sheffield flats: Developers sell student block in a 999-bed package for £130m

A property developer is selling off 999 student flats - including 125 in Sheffield - for £130m.

Urbanite Living is selling the Electric Press on Henry Street, Netherthorpe, in a package that includes two blocks in Leeds and one each in York and Glasgow. Great George Street Leeds and Clyde Court Glasgow are under construction.

The firm says it has developed the portfolio over the last five years and is selling assets to “recycle capital into its next ventures.” 

Sheffield central councillor Ruth Mersereau has previously voiced concerns about an oversupply of student flats in Sheffield - with more than 1,000 in the pipeline.

Urbanite founders Daniel Newett and Timonthy Smith said: “We are excited to bring this portfolio to market after five years of regenerating disused properties or land. 

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“Our investments have been well considered in providing much needed purpose-built student accommodation in prime locations where demand consistently outweighs supply.”