Accrue purchased Ladybarn House, a purpose built student hall in Fallowfield, Manchester in September 2011.
Accrue identified the opportunity to refurbish and reposition the previously owned University of Manchester hall. Ladybarn was bought in joint venture with Development Securities plc.
Accrue has undertaken an extensive refurbishment of the whole building on a phased basis to allow for continued occupation. The hall now has 117 beds, a mix of en suite cluster flats, brand new studios, deluxe studios, large studios, one bedroom flats and a coveted penthouse. Further amenities include private garden, common room, car parking, CCTV and WIFI for students.
There are six retail units on the ground floor with four tenants, the lease term have been re-geared since purchase.
Accrue continue to asset manage both the student and commercial elements.