419-apartment student scheme changes hands

A major student accommodation scheme in the Nottinghamshire suburb of Beeston has changed hands.

Cassidy Group has bought the The Square scheme, which has planning consent for 419 studio apartments, from Monk Estates and William May Developments for an undisclosed sum.

Patric Cassidy, director at Cassidy Group, said: “This is a great addition to our growing portfolio of schemes in Nottingham and nationally, having been granted planning for the development of 419 studios on the site in May this year.

“This adds to our current schemes of Arkwright Street and London Road in Nottingham creating a total of 1,084 student beds and 149 PRS apartments with a GDV of nearly £200m, all of which can be delivered by Summer 2025.

“With Nottingham being noted as one of three major cities in the UK with outstanding growth, and the ever-increasing student bed shortage, and lack of quality new apartments our schemes are in prime locations in walking distances of both University of Nottingham campuses and the main train station and tram lines, all of which is great news for our future investors and operators.”