Marcus Worthington plans 614-bed student block
PRESTON developer Marcus Worthington has submitted plans for a £37m, 614-bedroom student block close to the University of Manchester.
It wants to build a three to nine-storey, 215,000 sq ft block on the site of the former Ducie Court, next to Whitworth Park on Denmark Street.
In March Worthington arranged an £18.6m refinancing with the Co-operative Bank, moving from Santander, and raised new capital which was used to acquire the Denmark Street plot from a Jersey-based trust.
The previous owner won planning permission for the block but Worthington has submitted new plans with changes that should improve the building’s environmental performance.
Development director Russell Worthington said: “It’s the same height, density and massing which was granted permission in Febuary but changes have been made to improve the environmental performance of the building. It should be determined in the coming weeks and delivered in 2012-13 on a phased basis.”
The business has already started work on a £22m, 416-bedroom block on the other side of the park at Moss Lane East which is due for completion next year.
Mr Worthington added: “We’re very bullish about the student market in terms of what Manchester can offer and the quality of schemes that can be provided.”
With the residential property market still in the doldrums several developers have started focusing on student accommodation in Greater Manchester, attracted by the guaranteed flow of thousands of under-graduates to the city every year.
In recent weeks Hull-based Manor Property Group has submitted two applications, one for an eight-storey, 676-bedroom block in Hulme and another for 1,000 bedrooms at a scheme called Manor Wharf on Adelphi Street in Salford.
