IslamicFinance.de

This latest transaction completed in collaboration with GSH Kuwait, follows the acquisition of two earlier student accommodation properties in Loughborough and Liverpool last April, and brings the total value of Gatehouse Bank’s real estate portfolio in excess of £150 million.
The property has been purchased at a net initial yield of 6.73%, and will deliver an average cash yield of 9.3% per annum, with the university guaranteeing the term time rent and the developer, Berkeley Homes plc guaranteeing the summer vacation rent for the first five years.
The property, developed by Berkeley Homes, is subject to a Nominations Agreement with the Oxford Brookes University. The UK’s largest operator of privately managed student accommodation, CRM, will provide day to day management.