Cushman & Wakefield advises Receivers on the Kexgill Group’s £4m purchase of Haria Tower, Bradford

From Cushman & Wakefield…

In a deal worth over £4m, the Kexgill Group has purchased Haria Tower, Bradford from Receivers. Cushman & Wakefield’s Student & Residential Investment team acted for the Receivers.

Situated on the campus within the learning quarter, Haria Tower in Bradford offers 108 of the highest specification of student studios serving the university.

The Kexgill Group has nine branches throughout the UK as well as a presence in Germany. Overall, the firm’s total assets are valued in excess of £105 million. The Group sees this as a positive addition to their plans to deliver more accommodation that is high-quality, affordable and available to students across the country. The Kexgill Group has made future plans to utilise the tower to its full potential by rethinking the unoccupied space at the bottom of the building. Their aims include converting the shops below into additional high end studio flats. The takeover will come with some adjustments which include a name change from Haria Tower to The Kexgill Tower.

Managing Director, Richard Stott comments: “I have been looking for some time to increase our size in Bradford and an additional 108 studios at Haria Tower presented an ideal opportunity. The studios are of an exceptional quality and will form part of our Kexgill Club Class® branding. I am grateful to TigerLime consultancy who turned around the failed development on behalf of Receivers prior to our purchase.”

Simon Lowe, Associate Director in Cushman & Wakefield’s Student Residential Investment team comments: “We are very pleased to have concluded this sale. Kexgill performed in a very professional manner throughout the transaction and are the right party to take this asset forward. The asset is located in a prime positon in Bradford and I’m sure it will be strong performer in the wider Kexgill portfolio.”

Sean Kelly of TigerLime “TigerLime (t/a UniLodge Bradford) are pleased to be handing over the scheme to Kexgill, who will continue to manage the building to the high standards that the TigerLime team has established.”

Steve Williams, Bespoke Business Finance comments: “Bespoke Business Finance is delighted to continue its close working relationship with the Kexgill Group in securing the finance for their latest acquisition, Haria Tower. Having recently visited the property and seen first-hand the quality of the accommodation, it is obvious to me that this will be a fantastic addition to the business.”