In 2013, in partnership with Carval Investors European Real Estate Fund II, we acquired Waterside, Leeds for £16.3 million. The property comprises two residential apartment blocks of 183 one, two and three bedroomed apartments.
The property was fully occupied on acquisition. We carried out essential repairs and made improvements to the entrance halls and common parts. During our ownership, the rental values increased by more than 30%. In early 2016, the property was sold to an institutional purchaser for £25.5 million.
