Thu, 15 Aug 2013 | COMMERCIAL PROPERTY
The Opal 3 tower, the third tallest building in Leeds and home to over 500 students, has been placed on the market.
Located close to the University of Leeds and the Civic Quarter campus of Leeds Metropolitan University, the 25-story tower was built in 2007.
The tower was Opal Property Group’s flagship building before it entered administration in March this year, suffering with debts exceeding £880 million. Opal’s portfolio of student accommodation properties was subsequently placed in the hands of administrators from Grant Thornton, LPMG, PwC and Ernst & Young.
DTZ is marketing the property for sale along with other Opal properties, and is seeking offers upwards of £27 million for the Opal 3 tower. Tim Cameron-Jones, senior director at DTZ, says expressions of interest have been received from all the major players in the property sector and from overseas as well.
Opal 3 has cluster flats for up to six students, comprising mainly single en-suite rooms, with a smattering of double-bed rooms and studio flats and a gym on the 23rd floor.
The property is superseded in size by office and residential skyscraper Bridgewater Place and The Plaza Tower, built for 572 student apartments and opened in 2009.
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