Berkeley First has sold a student housing development in Kent to the Brandeaux Student Accommodation Fund, in a £60 million deal.
The fund, which operates under the Liberty Living brand, has acquired the second phase of the Liberty Quays development. The new building will house 502 bedrooms for students at the University of Kent and is due for completion in 2013.
The first part of the development, housing another 598 beds, was completed in 2009, and acquired by Brandeux as part of an earlier £60 million deal.
Liberty Quays is part of the Universities at Medway campus, a joint-development in Chatman, shared between four Kentish higher education providers.
Charles Marshall, chief executive of Liberty Living commented: “This deal follows the success of the first phase of student accommodation at Liberty Quays where demand has significantly outweighed supply.
“There is a clear requirement for cluster accommodation in the area and we are delighted to once again be working in partnership with Berkeley First and the University of Kent to deliver further housing to enhance the student experience.”