Arthur takes a look at potential and confirmed student accommodation developments announced this year across the UK.
There has been a proposed 400 bed build for the University of Warwick students, developed by McLaren Property. This development will be built on Westwood Way located around a 20-min drive from the main campus. There will be bike storage units and nearby local bus services to help students with their transport situation.
Development Director at McLaren, Bruce Ruddle stated: ”We are pleased to have submitted our planning application for a new student accommodation scheme on the site of 1 The Oaks to the city council. The site has been vacant for several years and given its sustainable, discreet location and distance from the neighbouring residential areas, we believe that it is ideally suited for a high quality, professionally managed student living scheme.”
Unite students have acquired 123 FoundationBridge in Edinburgh for £24 million. This consists of 331 beds and is closely located to the University campus. This new addition to Unite will mean there will be a new total of 1,680 beds in Edinburgh. Richard Simpson, Group Property Director, said: ”Edinburgh is one of the leading university destinations, with increasing student numbers. Combined with our other four Unite sites in the city, 123 FoundationBridge offers further diversification within our portfolio providing students with one of the most affordable student accommodation options in the city centre. This is a great addition to our portfolio and at 100% occupancy for the 2017/2018 academic year, it is clearly proving a popular choice for Edinburgh’s growing student population.”
In addition to Edinburgh, Unite Students have announced the potential new acquisition of a 1,000 bed development site in London, subject to planning permission. The proposed development has a scheduled opening in time for the 2021-22 academic year and will cost an approximate £195 million.
Richard Smith, CEO of Unite Students said: ” This is our first major development in London since 2013 and represents an important return to the City with the support of one of the UK’s leading Universities. This reflects our strategy of building long term partnerships with the UK’s top universities in strategically important locations where there is a shortage of affordable, high quality student accommodation.”
With all these new student developments, it might be worth checking out our student housing software functionality to see if you’d benefit from using it on your portfolio.