Major property deal sees 703-bed student scheme sold

A huge 703-bed student scheme in Nottingham has been sold by Cassidy Group.

Deakins Place, which has been forward funded, is on the former Willbond site, and sits next to Student Roost’s Nottingham Two, close to the University of Nottingham’s main and Jubilee campuses.

Cassidy Group received planning permission for Deakins Place in December 2019. Work on the site started late last year and it will be ready for the 2022/23 academic year.

FHP Property Consultants brokered a deal to sell the site to Cassidy Group in November of last year. The developer is currently developing York House in Nottingham for Student Roost for 2021/22.

Student Roost wants to combine the older and new buildings at Deakins Place with green outdoor spaces in between, with residents able to benefit from a range of shared social and leisure spaces inside the two properties.

Deakins Place will have a mix of shared flats and studios, and high-quality shared social spaces like study rooms and lounges, cinema room and hi-spec gym. Residents will also be able to receive the 24/7 on-site customer service and flexible payment options that are available as standard in all Student Roost properties.

It will take Student Roost’s total bed count across Nottingham to over 3,100.

Stephen Rigby, chief investment officer at Student Roost, said: “We’re pleased to secure this new deal in Nottingham, which is Student Roost’s fifth new development planned for 2022/23, as we continue to grow our presence in prime PBSA markets.

“With two excellent universities, Nottingham is a fantastic market for us to continue our growth. With Deakins Place’s neighbouring site, Nottingham Two, already operating a waiting list for the 2021/22 academic year, it’s also a city where we continue to see superb performance.”