Developer reveals milestone reached at Island Quarter site

Conyar, the owner and developer of Nottingham’s massive Island Quarter regeneration site, has announced a major milestone at the scheme.

The company says that practical completion of its first phase of student accommodation at The Island Quarter was achieved on Monday (June 3).

The property, which comprises 693 beds, as well as amenity space, is now under the control of Conygar’s appointed manager Fresh Property Group and available for occupation. The move will enable Fresh’s full access to the building ahead of the September 2024 student intake.

Robert Ware, chief executive of Conygar, said: “We are delighted have to have reached this milestone in the development of The Island Quarter and would like to thank all of the parties involved who have ensured the provision of a very high quality, amenity-filled property, which was delivered on time and on budget, and which we believe is a very exciting addition to the student accommodation offering in Nottingham.”

Conygar’s share price lifted slightly on the news, up almost 2.2% to 88.9p at 2pm on Tuesday afternoon.

The news will be a boost to Conygar after it revealed a loss of almost £4m for the six months ending March 31.

Last month, Conygar bought the long-leasehold interest of the site occupied by Virgin Active gym, next to its Island Quarter redevelopment site, in a deal worth almost £6m.