A STUDENT accommodation site in Reading has changed ownership.
Student accommodation provider CityBlock has completed the transfer of ownership of its all ensuite studio block, Berkshire House, on King’s Road, to an Oxford-based investment company.
As a result, CityBlock is no longer responsible for the management of the building, student welfare or customer care, with all aspects of management having transferred to Homes for Students in early July.
CityBlock is a family-owned provider of high-quality student accommodation and the King’s Road site was the company’s first venture in Reading.
As part of the sale, one of CityBlock’s Lancaster-based developments, known as Gillows, has also transferred to the new owners.
CityBlock retains the ownership and management of two further purpose-built and high-end developments in Lancaster on Penny Street and Marton Street, which together house over 130 UK and international students, and four commercial tenants.
Trevor Bargh, CEO at CityBlock, explains: “With Berkshire House, we had the opportunity to work with architects to design and build student accommodation that was truly fit for purpose.
“To be able to design a facility purely with students in mind was an incredible privilege, and a responsibility we took seriously.
“On opening, the reaction was just what we’d aspired for, but now it is time to pass the building on to new owners.”
CityBlock Operations Director, Alison Bargh said ‘Transferring ownership of the properties is not a decision CityBlock has taken lightly.
“Yet, knowing we have provided thousands of students with the highest quality facilities and amenities for many years gives us peace of mind that we are leaving behind a very worthwhile legacy.”
