Vita completes First Street block

VITA Student has launched its first block of upmarket student accommodation in Manchester.

Vita, which is also converting three buildings into 350 rooms in Liverpool, has completed 279 luxury serviced apartments at First Street.

The scheme, designed by 5plus Architects, has been pre-sold to investors.

The First Street site is taking shape with a £20m cinema and theatre building, an 11-storey 208-bed hotel, a 10-storey car park and 30,000 sq ft of restaurants, bars, and shops.

Vita was set up by Mark Stott, founder of the Dubai-focused property investment business Select Property based in Wilmslow, and Chris Oakes of Alderley Edge-based upmarket developer Huntsmere. It has been backed by the founders and angel investors such as Angus Monro, chairman of The Hut Group and former Matalan chief executive.

Sir Howard Bernstein, chief executive of Manchester City Council, said: “The First Street area is establishing itself as a vibrant new part of a growing Manchester city centre and a magnet for development. Vita’s investment is a great example of this and it is no surprise that it is already proving a sought-after place to be, located as it is in the heart of this emerging area and close to the Oxford Road corridor.”

Mr Stott said: “The academic excellence of Manchester is renowned the world over and the number of students flocking to the city means that there is a real demand for high-quality, purpose-built accommodation. First Street is a fantastic location and the mixed-use nature of the scheme is perfect for our residents who want to experience true city centre living while also enjoying a real community feel.”

Vita is also active in Exeter and Bristol and has just under 1,000 studio apartments, all of which are occupied for the upcoming academic year. It is now planning buildings in Sheffield and Newcastle.