Northridge Capital completes £8.6m acquisition of Derby student housing scheme

London-headquartered Northridge Capital has acquired Roman House, a 126-bed, 99-room student housing development in Friar Gate, Derby, from Catalyst Capital for £8.6m.

Roman House opened in September 2016 following the conversion of the existing office building to provide student accommodation comprising 72 studios and 54 ‘twodios’, totalling approximately 37,480 sq ft over two floors.

The scheme is sitauted adjacent to The University of Derby Law School (the ‘Copper Box’), and the University’s main campus is less than two miles to the north west.

Roman House has achieved 100% occupancy since opening and is on track to be fully let for the 2018/2019 academic year.

Matthew Beech, national capital markets at Colliers International, said: “We are seeing great interest from investors for high-quality student housing stock, that offers strong underlying fundamentals and strong income.

“Roman House is a great example of one such high-quality student housing development that is set to deliver strong returns for Northridge Capital well into the future”.

Colliers International advised Northridge Capital. JLL advised Catalyst Capital.