A UK investor and developer has acquired an 862-bed purpose-built student accommodation (PBSA) portfolio in Preston, Lancashire.
MCR has acquired Trinity Student Village, a 424-bed PBSA scheme in Preston, Lancashire (picture: MCR)
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A UK investor and developer has acquired an 862-bed purpose-built student accommodation portfolio in Preston, Lancashire #UKhousingMCR Property Group has bought Foundry Court, a 438-bed PBSA scheme, and Trinity Student Village, a 424-bed PBSA scheme, through its Flow Student platform.
The Manchester-headquartered investor bought the schemes from Jersey-incorporated Hencap Housing Properties, according to Land Registry documents.
Inside Housing Living has asked MCR how much it paid for the two schemes.
MCR said the acquisition gives Flow Student “immediate scale” in Preston and helps the investor in its strategy to build a “nationally recognised” student accommodation platform.
It also reinforces MCR’s confidence in the PBSA sector and keeps Flow Student on track to reach a 10,000-bed portfolio in 2026 – which is expected to place the platform among the top 15 PBSA operators in the UK.
The two schemes are located near Preston’s University of Lancashire campus and city centre. They have amenities including shared living areas, study space, laundry facilities and secure access.
MCR will deliver a “targeted” programme of improvements across both schemes, focused on accommodation quality, communal areas, operational delivery and overall resident experience.
The transition will also bring the schemes into Flow Student’s operational model. Flow Student operates thousands of student beds across the UK.
The platform continues to expand through acquisitions, capital investment and a focus on improving operational performance, accommodation quality and student experience.
MCR owns homes across a variety of tenures including build-to-rent and PBSA. The investor has been active for 30 years, focusing on acquiring, repositioning and managing homes across the country. A further acquisition is expected to complete “very soon”, MCR added.
Nick Lake, fund director at MCR, 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.”
Mr Lake 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.”
In February, MCR bought a student scheme with 606 beds in Canterbury, Kent. Once the development is completed, it is expected to have a gross development value of around £60m.
Last year, MCR bought seven student schemes, comprising 2,400 beds, which expanded its total UK PBSA portfolio to 5,000 beds.
One of MCR’s transactions in 2025 included a 237-bed student accommodation scheme in Sheffield for an undisclosed fee, as it revealed plans to launch a new student brand. The acquisition brought MCR’s student portfolio to more than 3,000 units across the UK.
The investor’s other PBSA schemes are located in Liverpool, Nottingham, Coventry and Sunderland.
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