£48m student scheme changes hands in Nottingham

The Unite Group, the owners, managers and developers of student accommodation, boguht a new 620-bed development site in Nottingham.

The direct-let development on Derby Road in the city, which is subject to planning consent, will open in time for the 2022/23 academic year. Total development costs are estimated to be £48m.

Nick Hayes, Unite’s Group property director, said: “This latest acquisition reflects our strategy of aligning our business with mid and high tariff Universities in cities where there is strong demand for affordable, high-quality student accommodation.”