MCR acquires Sunderland PBSA
The 629-bed Clanny House was previously operated under a long lease to the university and is now undergoing a 14-week refurbishment programme.
Allsop acted as agent on the sale.
Comprising 14 apartment blocks with a mix of two- to six-bed dorms, the freehold property sits within 7.5 acres of land.
The refurbishment programme will consist of amenity upgrades, internal reconfigurations, and new furniture to bring the buildings up to date and within regulatory requirements.
Located directly opposite Sunderland Royal Hospital and one mile from the city centre, the student accommodation is linked to the University of Sunderland by the nearby Metro.
Student numbers at the University of Sunderland have nearly doubled over the past decade, growing from 11,000 in 2016/17 to more than 20,000 in 2022/23, including more than 7,000 international students.
The purchase price was not disclosed.
Nick Lake, asset and fund director at MCR Property Group, commented: “Clanny House is a well-located and well-built asset that fits perfectly within our growing PBSA portfolio.
“With demand in Sunderland continuing to rise, particularly from both UK and international students as well as key workers, we see strong long-term potential.
“Our team is already onsite, progressing upgrades to deliver a refreshed, high-quality living experience that will support the city’s growing academic and healthcare communities.”
