£25m student scheme in Salford is sold out
Property consultancy Knight Knox and developer X1 have announced the complete sell out of one of their latest student scheme in Salford – X1 The Campus.
The £25m development will provide 260 studio apartments and 11 penthouses to the local student rental market and is on track for completion in time for September intake for which it has already accepted 40 student bookings.
Designed by architect Falconer Chester Hall and built by Vermont Construction, X1 The Campus Phase 1 raises the bar in premium student accommodation in Salford, they claim.
They point to the development boasting a number of luxury amenities for tenants including a modern gymnasium, cinema room, roof terrace and a number of secure underground car parking spaces.
X1 The Campus Phase 1 will be the 37th student scheme to be completed by Knight Knox, bringing the total value of its completed student developments to almost £220m.
Andy Phillips, commercial director at Knight Knox, said: “The complete selling out of X1 The Campus Phase 1 is a testament to the strength of the Purpose-Built Student Accommodation market in the UK.
“We are extremely excited by how much potential this area has, and the recent announcement of an £800m university masterplan by Salford City Council only confirms this.
“The 240-acre redevelopment, including educational, commercial and residential site along with extensive parkland, will only make the area more appealing to students at the University of Salford who wish to live as close to the campus as possible.”
Melissa Green, operations and regional director at X1, added: “It is no surprise that X1 The Campus has proven so popular with investors given that the vast majority of students at the University of Salford are forced to rent privately.
“The development’s location on the Frederick Road Campus could not be more perfect for students looking for the best possible accommodation and the high number of bookings already taken for September just shows its popularity.
“With The University of Salford at the heart of the local community, we’re sure that X1 The Campus Phase 1 will be an important addition to the future of the city.”
Phase 2 of X1 The Campus, adjacent to Phase 1 on the University of Salford campus, has now been launched and 74% of the apartments have already been sold.