Year: 2015

Plans to build a 293-flat student accommodation block on the site of a former shoe factory in Northampton are due to be approved next week despite numerous objections.

The proposals by Pelican Real Estate Limited and David Lock Associates are to knock down the Bective Works factory and neighbouring Jezebel House in order to build the new apartment block, which would house up to 331 students.

The building would include a number of “communal areas,” a cafe and a small retail unit accessible from Yelvertoft Road …

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Construction work is due to start on two adjacent student accommodation blocks set to house around 400 people.

Demolition is nearing completion on two sites in the Powis Place area of Aberdeen.

As a result, building work is expected to start in the next couple of days on the seven-storey student accommodation block on the site of the former Granherne House …

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Empiric Student Property has raised £75m through a placing, US private placement and subscription.

The issue was oversubscribed at the maximum size of £75m, significantly exceeding the target amount of £50m.

The board, in consultation with Jefferies International Limited, exercised its right to increase the size of the issue with a total of 70,921,985 shares to be issued at 105.75p apiece. 58,746,867 shares will be issued under the placing and 12,175,118 shares will be issued under the US private placement and offer for subscription …

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Communities secretary Greg Clark has refused permission for new student accommodation blocks and nearly 100 homes in Staffordshire, ruling that the benefits of the scheme are ‘insufficient to outweigh the irreversible and serious harm’ that would be caused to a conservation area.

Appellant Keele Seddon Ltd – a joint venture between the University of Keele and Seddon Homes –appealed after Newcastle-Under-Lyme Borough Council refused in December 2013 to grant full planning permission for the development of student accommodation blocks at Keele University Campus and residential development at The Hawthorns, Keele.

Keele Seddon also appealed against the council’s refusal to grant conservation area consent for the demolition of existing student accommodation blocks and management block at The Hawthorns …

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Yet more student accommodation could be coming to Cardiff, if planners give another developer the green light this week.

The former Cardiff and Vale College building at the junction of City Road and The Parade in Roath has been sold and an application has been submitted to Cardiff council for the land at 35 The Parade, to be turned into a ground floor coffee shop and student accommodation.

T2 architects have designed the proposal for agents LRM Planning …

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The student accommodation specialist has unveiled a five-year expansion plan which could see the multi-million pound company double in size over the next 5 years.

The Kexgill Group, based at Hull, already has nine branches throughout the UK as well as a presence in Germany. Overall, the firm’s total assets are valued in excess of £100 million. It is seeking to acquire and invest in new assets across the UK.

To better support its five-year growth plan, The Kexgill Group recently changed banking partner to Santander Corporate & Commercial. The bank has refinanced over £6 million in lending facilities which will allow the Group to fully support its current portfolio of properties as well as invest for growth, if and when the opportunity arises …

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Avenue Capital is undertaking a strategic review of its £450m student housing portfolio which could lead to a sale.

The US investor has appointed JLL for the review, which may see it exit the UK student housing sector two years after making its first purchase.

A formal sales process would take place in the autumn …

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Plans for the redevelopment of Elephant and Castle shopping centre have been unveiled and are now open for public consultation.

Developers Delancey have formed a joint venture with APG to deliver the project. The proposal is to redevelop the current shopping centre which is located within the £3 billion regeneration area.

The plans form part of a new town centre with new links that will open up the development and form a connection with the railway station …

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Lloyd’s coverholder Cobalt Underwriting has secured the 90 North Real Estate Advisors (90 North) property portfolio in a placement by Lockton’s Real Estate and Construction (REAC) practice.

90 North is an independent property advisory firm with a portfolio including high class student accommodation, warehousing, offices and retail space around the UK with a market value in excess of £300mn ($470mn).

Cobalt Underwriting is the first London market underwriting agency to provide shariah compliant (re)insurance products …

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Work has started on a new development of just under 30 student apartments at a former warehouse in Sheffield city centre.

The £2.2 million Bells Court project is on Bailey Street, off Trippet Lane, and is set to open next summer.

As well as offering 29 flats, the 9,500 sq ft development will offer secure bike storage, an on-site laundry and a central courtyard garden …

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