783-bed student accommodation scheme sold
Property developer Godwin Developments has sold the Bendigo Buildings – a consented scheme for new purpose-built student accommodation in Nottingham – to Bricks Group.
The scheme, in the city centre, will include 783 beds including of a mix of studio apartments, four, five and six-bedroom clusters and studio rooms. It will also provide a range of indoor amenities and landscaped gardens as well as commercial units on the ground floor for residents and the neighbouring community.
The Bendigo Buildings development will be built on land currently occupied by a former Royal Mail sorting office, which has been vacant for nearly 20 years, as well as the adjacent car park on Cowan Street.
Godwin Developments acquired the Royal Mail site in June 2020 and the Cowan Street site in 2021. The company secured full planning permission for both plots in the second half of 2021, to help meet demand for student accommodation in the city whilst regenerating the area of St Ann’s and delivering on a number of the Council’s objectives around student living and place making.
Matt Chandler, managing director at Godwin Developments, said: “Representing one of our largest consented schemes to date, the Bendigo Buildings utilised our in-house expertise to work up and achieve planning for this compelling scheme on a brownfield site which will bring significant regeneration benefits to the city. We are pleased that dynamic student, hotel and co-living property company Bricks Group will now take the project forward into delivering a new thriving student hub for Nottingham.
“Nottingham has significant unmet demand of student beds and with increasing student numbers expected as both universities continue their expansion plans, there is a clear requirement for more dedicated student spaces where young people can live, study, and socialise together. The Bendigo Buildings helps cater to this demand whilst also supporting the Council’s ambitions to keep the city centre vibrant, provide better quality student housing, and protect further traditional family housing from being converted for student occupation as well as bringing substantial investment to the city.”
Stephen Pratt, co-founder and director at Godwin Developments, added: “This development and transaction are a clear demonstration of the strength of the Godwin business and our expert team’s capability. I’d like to thank all the consultants involved for their hard work and support at each stage of the process.
“As a business, the sale will help Godwin achieve its ambitions by reinvesting the proceeds into a number of new opportunities throughout the development cycle across the residential, commercial and industrial segments nationwide as we drive our strategy forward.”
“We are looking forward to bringing more high-quality developments to Nottingham in the future.”
Peter Prickett, founder and CEO of Bricks Group, said: “It’s great to purchase such a fantastic site in the amazing city of Nottingham. This demonstrates the Bricks Group’s continued growth plans within the PBSA marketplace, with our true student brand offering the ultimate student experience and setting new standards. We’ll also be looking to integrate UTime fitness and doza (doughnuts and pizza concept) as part of our ecosystem of lifestyle brands.
“It’s been a pleasure working with the team at Godwin – a relationship we look forward to building upon with future collaborations together.”
Irwin Mitchell and CBRE advised Godwin Developments on the transaction.
