Accrue purchased Ladybarn House, a purpose-built student hall in Fallowfield, Manchester.
Identifying the opportunity to refurbish and reposition this asset in a 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 by tenants. 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 a 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 terms were re-geared after purchase ahead of onward sale.