A collection of apartments and townhouses in Sheffield has been bought by a global property trust for £5.8m, as part of an investment into residential properties in the city.
The Pervaiz Naviede Family Trust (the Trust) purchased 25 high quality units, located in a residential development on Riverdale Road, two miles west of Sheffield city centre.
The purchase, which comprises 13 two-bedroom apartments and 12 three-bedroom townhouses, fronts on to Endcliffe Woods and overlooks nearby Porter Brook.
Completed in 2014, the development sits on a site formally occupied by student halls of residence.
Rudi Falla, spokesman for the Trust, said: “We feel we’ve got a great deal with this latest acquisition. The properties benefit from a fantastic suburban location and we’re positive that the proximity to Porters Brook and Endcliffe Woods will prove very desirable to people looking for homes in the area. The Trust is expanding its portfolio focusing on high quality investments that produce a long-term income. We are currently exploring a number of opportunities across the UK.”
Mike Gorman, National Residential Director for CBRE, said: “Riverdale Road is a significant residential investment sale by CBRE in a desirable area of Sheffield where there is a real opportunity to add value and create a unique high end product.”
The properties were marketed by CBRE, which acted on behalf of the vendors Baker Tilly and Gateley Plc provided legal representation on behalf of the Trust.
Posted on: August 25, 2015