Campus Living Villages selected as the preferred bidder to create up to 1,000 new student beds for Durham University
October 04, 2017Read More
We have extended our relationship with Bournemouth University with the acquisition of a long leasehold interest in Cranborne House granted by the University.
Cranborne House adds to the three properties we already own and manage, taking our bed numbers to a total of 1,201 in the coastal city. The site is located on the Lansdowne Campus and is home to 497 residents, a popular location that’s within walking distance of the centre of Bournemouth, the beach and the Students’ Union. The site is also adjacent to the location of a major new academic development on the Lansdowne Campus.
Funding for the transaction was arranged through an income strip with Aviva. The acquisition completed on 8 September, 2017 with our existing Bournemouth Student Village Team taking over the management of the site from 8 September, 2017, alongside a new member of staff that has now joined Campus Living Villages from the University.
Richard Gabelich, CEO of Campus Living Villages UK said: “We’re delighted to acquire yet another high quality student accommodation site in Bournemouth and to further our partnership with Bournemouth University. Cranborne House joins our existing portfolio, working alongside the University to offer unparalleled student experience in the city. This site, along with future developments we have planned, shows our commitment to deliver outstanding student experience in major university locations across the UK.”
Mandi Barron, Head of Student Services, Bournemouth University said: “BU is delighted to extend our relationship with Campus Living Villages who we have partnered with for a number of years, including most recently on our student Residential Life programme, which launched in 2016 and aims to develop inclusive and healthy communities within our student residences. We know that excellent customer service and student welfare is a priority for Campus Living Villages, which is important for BU and our students.”
Chris Wade, partner and real estate specialist at Osborne Clarke, who provided legal advice on the acquisition, added: “Demand for student accommodation continues to grow and Campus Living Villages is widely regarded as a global stand-out player that delivers large-scale, complex projects within the sector.
“We are proud to have worked with them for nearly 10 years and delighted to have been able to advise them in relation to the expansion of their Bournemouth portfolio.”
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