Rockspring Property Investment Managers has acquired a student accommodation scheme in London from UK property company Quintainon on behalf of a discretionary single client account.

Rockspring acquired the recently completed Dashwood Studios scheme for £34 mln (almost EUR 39 mln). This compares to a site valuation of £14.7 mln at end-March 2011 and subsequent construction expenditure of £17.8 mln.

Dashwood Studios is located in Elephant & Castle and attracts residents from several London universities in the surrounding area, Quintain said.

The property comprises 232 studio rooms, multiple communal living spaces and retail units on the ground floor. The entire scheme is let for the current academic year and the retail units are under offer.