Select takes Vita concept to Newcastle
CHESHIRE-based developer Select Property has started work on an upmarket student scheme in Newcastle under its Vita brand.
It has planning permission for a 259-bed block in Westgate Road close to the railway station.
The Alderley Edge-based group completed a 280-bed block at First Street in Manchester this year and has started similar projects in Liverpool, Bristol, Exeter and Southampton.
The company said it has already sold 50% of the planned student rooms in Newcastle off plan to buy-to-let investors.
Chief executive Mark Stott said: “The investment demand for purpose-built student accommodation has sky-rocketed in recent years and the sector has certainly proven itself in a testing economic environment, with many private providers now coming to the fore.”