Edinburgh-based Buccleuch Property had sold its share in a £75 million student housing scheme due to be built in Sheffield.
The 850-bed development opposite The Moor is on a significant gateway site in the City’s Devonshire Quarter which has been earmarked for more housing. Co-owner Litton Properties and Buccleuch sold up to Fusion Student Living Ltd.
It has taken several years to bring to fruition and involved land assembly from a private landowner and Sheffield City Council.
Construction is due to start in early 2019 and the development will be completed in time for new students in autumn 2020.
Sandy Smith, development director of Buccleuch Property, said: “We have been impressed in all our dealings with Fusion and are confident they will deliver a high-quality scheme and Co-Living offer to Sheffield. The site is equidistant between Sheffield University and Sheffield Hallam, and close to facilities within the city centre.”
Mark Twelves, MD of Litton Properties, said: “We are pleased to have been able to bring forward this significant regeneration project, obtain planning consent and then successfully secure a future owner/operator.
Legal advice on the sale was provided by Shoosmiths, and CPP acted on the transaction.
