University begins property disposals, to pave way for future investment
The University of Sheffield this week began the sale of around 140 of its smaller residential properties in the city. The disposal strategy will allow the University to further invest in academic and teaching facilities, and help to provide students with improved, high-quality, affordable accommodation for the long term in the city.
Collectively known as the Apple Portfolio, the majority of properties to be sold range from two-bed terraced houses through to larger family-sized properties, along with a number of larger blocks and development opportunities. Most of the properties are in the S10 and S11 postcode areas in the Western suburbs of the city. The sale is to be managed by Colliers CRE.
The University is currently finalising its plans for future accommodation provision, which will be presented to the University's governing body in the summer. The strategy will centre around improving existing properties, developing new accommodation, and contracting with private developers that are already developing purpose-built, high quality accommodation in the city.
Euan McGregor, the University's Director of Finance and Resources, who is managing the sale, said, "We are committed to providing our students with a choice of good-quality, affordable accommodation. The funds raised from the sale will help us to realise this aim and to continue with further investment into teaching and academic facilities.
"A number of the properties for sale are a significant distance away from the University teaching buildings and have become increasingly unpopular with students.
"The University is now looking to the future to ensure that the range and quality of student accommodation in the city increases. We have taken measures to ensure that the disposal will not affect our services in the short term whilst the new accommodation strategy is finalised and rolled-out."
Mike Roberts, Director of Colliers CRE said, "The Apple portfolio represents an excellent opportunity for investors and developers in Sheffield's dynamic property market. We are seeking companies who can help to maximise the value of these properties."
Notes for Editors: · The property sales are being managed by Colliers CRE. Interested parties should contact Mike Roberts at Colliers CRE on 0207 487 1975.
· For further information about the University of Sheffield and its accommodation services, contact Andrew Henderson on 07968 559 076.
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