Worcester student block sold by Bond Wolfe for £2.5m

A student block in the centre of Worcester has been sold by commercial property firm Bond Wolfe for just over £2.5 million.
The 83-bedroom Sansome Hall at 1 Sansome Walk, built in 2008, was sold to a private investor on behalf of the joint receivers at Kroll.
READ MORE: Former Worcestershire exhibition firm's units to go under hammer
James Mattin, managing director of Bond Wolfe, said the property was currently 89% let producing £451,200 rental income per year, with the potential for this to increase to £497,400 per year once fully let.
"After a competitive bidding process, we are delighted to have successfully sold Sansome Hall on behalf of the joint fixed charge receiver," he said.
"This successful sale followed a robust marketing campaign, with interest received from a wide pool of buyers attracted by the strong annual income and potential for further growth."
Mattin added that the new owner intended to hold Sansome Hall for the long term, driving up the rental income through focused asset management.
The accommodation sits 0.25 miles from the University of Worcester's city campus, with St John’s campus just 1.4 miles away.
There are 18 rooms on the ground, first and second floors, 15 rooms and the warden’s flat on the third floor and 14 flats on the fourth floor, with space totalling around 21,284 sq ft.