Crosslane Dutch Developments (“Crosslane”), part of the Crosslane Group, announces that it has successfully sold a 9,500 sq m site with planning permission to be converted into a 290 bed student accommodation development in Delft, the Netherlands, to property management firm Camelot Europe (“Camelot”).

The site is located at Schoemakerstraat 97a in the South East of the city, adjacent to the Delft University of Technology (“TU Delft”) campus and within a 10-minute cycle ride to the city centre. The site is a vacant former TNO office and laboratory building. Crosslane acquired the site in 2015 and then successfully gained planned permission for the asset to be developed into a student accommodation property with 290 beds.

Crosslane is currently exploring investment opportunities and continues to identify sites to deliver on its objective to develop a portfolio of 2,500 beds within five years in the Netherlands. Key cities being targeted in the Netherlands include Amsterdam, Delft, Den Haag, Eindhoven, Groningen, Leiden, Maastricht, Nijmegen, Rotterdam and Utrecht.

Crosslane invests in and develops student accommodation for acquisition both by investment funds managed by the Crosslane Group as well as by third parties. Crosslane also has the unique benefit of having its own established pan-European lettings and operational platform, called Prime Student Living, to manage completed developments, which helps Crosslane take a longer-term approach to developing student accommodation properties, ensuring its buildings continue to remain of high quality and relevant long into the future.

Crosslane was represented by Savills and AKD acted as legal advisors on the sale of the site. SOLV Lawyers acted as legal advisors to Camelot.