In 2016, we acquired Velocity Village in Sheffield city centre for £36.75 million, in partnership with funds managed by Europa Capital.
The Village included 40,000 sq. ft. of offices and 444 apartments, mostly let to students. We sold a mixed-use block of offices and 83 residential units.
We then took over the property management and established AddLiving, enabling us to reposition the core holding of around 275 apartments and moved the tenant mix from entirely student based to an equal mix of students and young professionals. We added amenities in the courtyards, upgraded the lettings lounge and created a games/tv room for the residents.
