Unite Students acquires 437-bed Sheffield development in £35.5m deal

Unite Students has announced that Unite Students Accommodation Fund (USAF) has acquired Brass Founders in Sheffield for £35.5m (Unite share £8.4 million).

Brass Founders is located on Scotland Street, a few minutes’ walk from both the University of Sheffield and Sheffield city centre.

The 437 beds are fully let for the 2017/18 academic year.

The University of Sheffield is ranked 13th in the UK in the 2018 Times Higher Education rankings and was awarded a silver Teaching Excellence Framework (TEF) rating.

Richard Simpson, group property director at Unite Students, commented: “This acquisition demonstrate our strategy of building and acquiring quality student property close to high-ranking universities, where student numbers are growing.

“We have strong existing relationships with universities in Sheffield and we are confident that Brass Founders will provide students with a quality, affordable home in a great location.”