The student residential division of London & Scottish Investments (LSI), London & Scottish Student Housing (LSSH), has acquired Crown House in Sheffield for £3 million.
The 50,000 sq ft office building in West Bar in Sheffield City Centre was purchased from Colliers acting as LPA receivers. Knight Frank represented LSSH, which intends to convert the building into high quality student accommodation.
Ciaran Little, Managing Director of LSSH, said: “This is the first acquisition for LSSH. It gives us a great opportunity to start a portfolio of innovative student accommodation and provide a quality alternative for students in Sheffield, a vibrant city with two strong universities. We look forward to working with the local authority to regenerate the site, which has been unoccupied since it was built in 2008.”
“Going forward, our focus is on growing a portfolio of high quality and well-located student accommodation across the UK, in strong university cities.”
A planning application for Crown House is expected to be submitted in the spring.