BREEAM Outstanding student village sold at huge mark up
The GWP Architecture-designed University of Bradford sustainable student village has been sold to private investors for more than £40 million
The BREEAM Outstanding accommodation has made a 170 per cent return on investment for its lead investors, the Abu Dhabi headquartered Hayaat Group.
Hayaat said the 10-block residential scheme, called The Green, had been sold to a Kuwait-based fund.
Mohammed Ikhlaq, executive director of Hayaat Group, said: ‘We are very proud of what we have achieved at The Green and look forward to a long and happy association with the University of Bradford as we contribute to the development of [the] Learning Quarter.
‘To have seen the project through from conception to completion represents a considerable triumph, given the horrendous market conditions that prevailed at a key stage of its development. It is a shining example of how the private and public sector can work together to deliver a project that contributes so much to the community.’
The Green houses 1,026 students and was completed in 2011.
It features combined heat and power; solar thermal energy; high levels of insulation and air tightness; and rainwater harvesting.
The development was the first phase of a £750 million urban regeneration scheme.