JLL Advises on the sale of Nido, West Hampstead
JLL led the sale of the student accommodation asset Nido, West Hampstead to an existing PBSA investor
Nido, West Hampstead has been sold on behalf of long term clients of JLL for £124m. The operational PBSA asset comprises of 347 beds with planning permission for a further 41 studios. The best in class scheme provides a number of quality amenity spaces and a range of bedroom types appealing to both domestic and international students. The scheme also included a fully let, 22,700 sq ft office space on the ground floor.
The scheme sits in West Hampstead, an affluent residential Central London location offering strong transport connectivity with the Jubilee Line, Metropolitan Line and London Overground and within just a 2-minute walk of the Thameslink service. The majority of London university campuses are accessible within a 20-minute journey time which has been an attraction point for many students. Students have also been drawn in by the wide range of amenities that the area has to offer.
Certified as BREEAM ‘Excellent’ the property boasts strong sustainability features with rooftop solar panels which produce c9,000 kWh per annum.
Huw Forrest, Head of UK Student Housing - Living Capital Markets said, “The JLL team delighted to have worked on this landmark investment disposal in the sector. Despite a number of headwinds over the past 12 months, investor confidence in the sector remains high, and this was reflected in what was a highly competitive sales process with a number of new and existing investors chasing the opportunity.”
JLL managed the sale on behalf of existing clients.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 91,000 as of March 31, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.