A Purpose-Built Student Accommodation development in London Paddington is set to be sold for in excess of £191 million.
Citi View has been operational since the start of the 2024/25 academic year, operated by Prestige Student Living.
Naresh Abrol at Union Property Developments, said: “We acquired Citi View from the University of London in September 2022 and undertook a full refurbishment to deliver a modern, resilient PBSA asset that has now been fully operational for 18 months.
“Having proudly established the scheme, we are now ready to pass the baton to a new investor as we progress our broader ambitions.”
The scheme comprises 357 beds, arranged across eight floors. The development holds a range of studios designed to meet demand from postgraduate students.
The asset has gross income of £11.2 million for the 2025/26 academic year, due to rise to £11.4 million in 2026/27, strengthened by an agreement with Londonist DMC Ltd.
London has more than 42 Higher Education Institutions, including five Russell Group universities.
This includes Bloomsbury’s renowned ‘Knowledge Quarter’, home to University College London and the University of London located approximately 9 minutes away. Imperial College London’s White City Campus and main South Kensington campus are accessible in around 10 and 20 minutes respectively, while both the London School of Economics and King’s College London can be reached in approximately 20 minutes.
Rupert Strutt, partner in the student property team at Knight Frank, said: “We are incredibly proud to bring Citi View to the market; the sale represents a standout opportunity for investors.
“The scheme is institutionally scaled, modern, and truly best‑in‑class, offering something unique for both established players and new entrants, seeking exposure to a prime Zone 1 location.
“With continued demand for high‑quality, well‑located operational assets, combined with a lack supply in the capital, Citi View is exceptionally well‑positioned to attract strong interest.”
HESA data shows that London is also the largest and most structurally undersupplied PBSA market in the UK, with 74% of students unable to access purpose-built accommodation.
London is home to 476,000 full‑time students, while international students now account for 55% of the city’s student population, with non‑EU numbers rising by 80% since 2019.
Russell Hefferan, head of student accommodation, capital markets, at Cushman & Wakefield, said: “This type of investment opportunity only emerges once every few years.
“We are incredibly excited to be mandated on Citi View – a premium product in the prime West End submarket of London, the leading global destination for students.”
