A Manchester-based property company has taken over two major student accommodation sites in Preston.
MCR Property Group has completed the acquisition of Foundry Court and Trinity Student Village which are both based close to the University of Lancashire campus.
Foundry Court, on Brook Street comprises 438 students beds while the Trinity, on Great Shaw Street, has 424. The 862-bed portfolio will be managed by the company’s Flow Student platform which is aiming to reach 10,000 beds this year.
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MCR Property Group says it will deliver a targeted programme of improvements across both properties.
Nick Lake, fund director at MCR Property Group, said: “Preston is a logical next step for Flow Student. It is an established university city with strong underlying demand, excellent connectivity and a clear requirement for good-quality, accessible student accommodation. Foundry Court and Trinity Student Village give us immediate scale in one of the North West’s key university markets. Both assets are established, well located and offer clear scope for operational improvement, targeted investment and long-term value creation.
“This acquisition is further evidence that we are executing exactly the strategy we set out: acquire assets with strong fundamentals, deploy capital intelligently and use active management to improve performance. Scale matters, but only when it is matched by discipline.
“We are not growing for the sake of it. We are building a platform with operational depth, clear performance standards and a sharp focus on the student experience,” he added.
“With our current acquisition pipeline, we are confident that Flow Student will meet its target of reaching 10,000 beds in 2026. Foundry Court and Trinity Student Village give us a meaningful presence in Preston and represent another important milestone in delivering that plan.”
