A student accommodation block in Birmingham' Southside district has been sold for £15 million.

Birmingham Properties Group has offloaded the 140-bedroom Bromsgrove House to Singaporean investor Perfection Point.

The scheme, which was completed in Bromsgrove Street in September, has an estimated gross student income of £1.2 million for the current academic year and a further £40,000 from its ground floor retail unit.

John Tebbutt, managing director of Birmingham Properties Group, said: "This is our third student development we have undertaken in Birmingham.

"The group is very active in both the residential and student markets and we are keen to secure additional opportunities."

Rupert Strutt, from Knight Frank's student property team, added: "The student accommodation market continues to prosper in Birmingham, particularly the city centre sub-market which has seen a number of new developments over the past 18 months.

"This deal demonstrates the appetite from Asian investors into the sector remains strong."