Crosslane sells Albert Place to Middle Eastern investors

By Richard Hook2018-04-30T11:43:00

Middle Eastern investor clients of Kout Advisory have acquired the purpose-built student accommodation development scheme Albert Place in Newcastle from Crosslane Student Developments for £10.4m.

Albert Place is a 134-bed PBSA scheme successfully completed by Crosslane in September 2017 ahead of the start of the 2017/2018 academic year. As part of the deal with Kout, Prime Student Living, the operational management arm of Crosslane, has secured a contract to continue to operate Albert Place until at least August 2020.

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