Tag: Student Flats

Turley has secured full planning permission on behalf of Butler Company and NALM for a student accommodation development on a vacant site next to Lime Street station in Liverpool.

The proposal involves towers of 17 and 21 storeys, designed by Liverpool-based architects Falconer Chester Hall.

The majority of the wider site has already been developedLime Street CGI Credit Falconer Chester Hall for student accommodation, known as Grand Central.

Hotel use was previously granted planning consent at the site, but was not implemented due to changing market conditions.

Turley’s specialist heritage team advised on the scheme, which took into consideration the significance and setting of nearby listed buildings, including Lime Street Station, St George’s Hall, and Crown pub …

View original article

A new student housing development is set to be built in Edinburgh following a £19 million investment secured by Maven Capital Partners.

The firm will act as the asset manager on behalf of IP Investment Management (IPIM), a Singapore-based Investment Fund, on the scheme which will see 255 purpose-built bedrooms built on Gorgie Road.

This is Maven’s second partnership with IPIM in the student accommodation market following the acquisition in March of a site in Selly Oak in Birmingham which will provide 100 studios when completed in September 2016.

There are an estimated 34,000 students in Edinburgh who do not have access to university halls of residence or purpose-built accommodation. The site will add 92,000 sq ft to accommodate the city’s growing student population in a mix of cluster flats and studios set to be completed in 2017 ahead of the new academic year.

Peter Young, director at IPIM, said: “We are committed to building a robust portfolio of student accommodation assets across the UK and we see Edinburgh as a crucial part of this. More than 70 per cent of Edinburgh’s full-time students are unable to live in student halls or purpose-built housing, creating an evident need for well-located and high quality accommodation.

Our new site is in an excellent location, en route to the city centre from Heriot-Watt University Campus at Riccarton and Edinburgh Napier University’s Sighthill, Craiglockhart and Merchiston Campuses, offering convenient housing options that are truly needed by the city’s students ..

View original article

M&G Investments, the leading asset manager, announces the completion of 2,350 new student rooms, with more than half – 1,500 – having been built at Swansea University’s new Bay Campus.

Construction of the accommodation is the latest milestone in M&G’s programme of investment in the university sector which has so far totalled GBP380 million. Investment money has been sourced primarily from UK pension funds and institutions with similar long-term investment horizons.

Other accommodation under construction includes 417 beds for the Royal College of Music in London at a cost of GBP36.9 million, while 602 beds at Bangor University in Wales and 324 beds at the University of St Andrews in Scotland, costing GBP37.4 million and GBP26.8 million respectively, have been completed for the new academic year. M&G is now on course to provide accommodation for more than 6,000 students following its first investment in 392 beds in Bristol at a cost of GBP21.5 million in 2009.

Ben Jones, Head of Real Estate Income, M&G Investments, says: “Like corporates who previously relied on banks for financing, universities have also had to adjust to the new financing landscape that emerged following the 2008 crisis. Pension fund and institutional investors, who can provide long term financing in different forms, are increasingly investing in the sector.

“Traditionally, universities have accessed the capital markets via the bond or private placement markets but there has been a significant trend in universities using alternative financing structures in order to build new student accommodation.

“The most prominent new trend is investment in student accommodation through long-lease structures, which gives investors inflation-linked income over the long-term. It is an attractive option for universities to gain long term financing for the construction of student accommodation while retaining the freehold ownership of the land.”

Kris McPhail (pictured), Investment Director, M&G Real Estate, says: “There is an increasing emphasis on the university experience and quality accommodation, on or close to campus, is becoming a key aspect of this. Universities are embracing long-term institutional investment as a way to provide the standard of accommodation that students have come to expect.

The new campus at Swansea Bay will not only provide an excellent standard of teaching facilities, but will house almost 1,500 students in purpose built accommodation financed by pension fund clients. The long lease market has evolved considerably over the past 15 years and the investible universe now spans all sectors of the real estate market …

View original article

Plans are being drawn up to build a new development of student bedrooms in the heart of the University of Essex’s Colchester campus.

It has record numbers of students and is planning for 50 per cent growth over five years.

The latest plans would provide 600 new en-suite study bedrooms on land allocated for new student residences on the university’s Knowledge Gateway site.

It would ensure the university had sufficient accommodation for all first-year students to be offered a place to live on campus in 2017. It is working with development partner, Uliving, which manages its University Quays and Meadows accommodation, to prepare plans to be submitted to Colchester Council.

The two organisations are asking for the views of residents and community groups on the plans ..

View original article

Empiric Student Property has acquired, subject to planning, a site on Bonhay Road, Exeter, for a price of £2.5 million.

The site is to be developed into a 139 bed new-build premium student accommodation scheme and a forward funding development agreement is expected to be entered into shortly.

The group will acquire the freehold of the scheme, which is located a short distance to the University of Exeter, Exeter College and the city centre and opposite Exeter St David’s train station.

The scheme comprises the construction of new purpose-built student accommodation built over four storeys and around a communal courtyard area. This acquisition represents the Group’s fourth in Exeter and, once all properties are complete, will take the number of beds owned by the Group in the city to 332.

The property will be developed to Empiric’s specifications and is expected to be completed in time for the 2017/18 academic year …

View original article

“Coventry could be about to see yet more student flats built in the city.

Developers have submitted plans to the city council to build two blocks of flats, which would be home to nearly 350 bedrooms, at the site of a car dealership in Hillfields.

The Brandish Vauxhall garage in Raglan Street is soon to move premises and now an application has been submitted to planning chiefs for the student accommodation at the site.

Should the flats be given the go-ahead, then two buildings would be built in Raglan Street; one containing 240 rooms in a U-shaped block and the other 107 studio rooms in an L-shaped block.

The planning statement from RMF Properties Ltd and Sir Robert McAlpine Capital Ventures Ltd says that the proposed entrance would be via the existing cul-de-sac off Lower Ford Street, and also states that the proposal is supported by Coventry University …

View original article

A large student village could soon be built on the banks of the Water of Leith if new plans get the go-ahead.

The major scheme would see two patches of land off Lanark Road at Longstone transformed into a complex of flats and studio rooms straddling either side of the river – providing housing for around 250 students.

The proposals would also mean the demolition of the recently refurbished Blue Goose Country Pub alongside nearby garage and car dealer Westside Motors.

It is understood a private operator would be expected to take over the completed site, which will not be affiliated to any specific university but could target students at Heriot-Watt and Napier.

The plans, which are contained within a pre-application notice submitted to the council by Lanark Road Living Limited and Rick Finc Associates, include 24-hour reception areas and 200 cycle spaces – with no more than five car parking spaces provided at each development.

Developers said there was potential to build a new link to the Water of Leith walkway – but insisted there were no current moves to construct a bridge over the river connecting the two sites.

But councillors and community groups have argued the ambitious plans are simply too big for the local area. Stewart Campbell, planning spokesman at Longstone Community Council, said it was “not the right place” for the project …

View original article

Booming Salford – now dubbed one of the country’s ‘key growth areas’ – is set for nearly 2,000 new homes after town hall chiefs gave six residential schemes the green-light in just a couple of hours.

The city will get 1,100 new apartments on the banks of the Quays – as well as 300 new student flats and a new office development nearby.

Projects elsewhere, given the go-ahead by the council’s planning committee this week, will see 500 new homes across Salford.

Work on four huge 26-storey tower blocks containing 1,100 apartments at the heart of MediaCityUK will soon start …

View original article