Unite Students buys site in Coventry for £24m

UNITE Students, the developer and manager of student accommodation, has acquired an development site in the centre of Coventry for around £24m.

It is envisaged that the site will provide a home for approximately 370 students and is scheduled to be open in time for the 2017/18 academic year.

Unites said the scheme is expected to achieve returns in line with its targets for regional development.

The site has not been identified but is said to be in a prime city centre location in close proximity to the Coventry University campus.

Coventry University continues to perform well and has seen UCAS acceptances increase 14% this year. It was named ‘University of the Year’ at the 2015 Times Higher Education Awards and is home to over 25,000 students.

Richard Simpson, managing director of property for Unite Students, said: “We are delighted to have acquired a further site in Coventry for delivery in 2017.
“Coventry University has continued to perform strongly, driving high levels of demand for good quality, well located purpose built student accommodation.”

“Birmingham’s growing reputation as a leisure and business destination is driving confidence in the city’s hotel sector.”

There are currently 11 hotels in the planning or construction process in Birmingham, including Europe’s first Park Regis hotel, which will open in March in the former Auchinleck House building on Broad Street.

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