£36m luxury student accommodation block announced for Liverpool

The Bowline scheme
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Niveda Realty is developing a second luxury student accommodation scheme in Liverpool.

The real estate asset manager and purpose-built student accommodation (PBSA) expert said Bowline is located at the gateway of Liverpool’s Knowledge Quarter.

Niveda has appointed Prestige Student Living, the premium brand of leading UK student accommodation provider Homes for Students, to handle the operations of Bowline and delivery of the student experience.

Tim Goddard, investment director at Niveda Realty, said: “Niveda is thrilled that construction is well under way on this £36.6m project.

“Liverpool is a thriving city with so much to offer students, with excellent universities, a diverse culture and social scene.

“Bowline represents the future of the PBSA sector and the admirable determination of students to want to uphold the authentic UK student experience.”

He added: “This development also conveys the core value of Niveda, of developing and managing buildings that matter, in places the team believes in.”

Bowline is the first scheme in Liverpool for Prestige Student Living, who operate within 24 other UK major cities, and is set to offer leading levels of service and luxury living for students.

Martin Corbett, Homes for Students managing director, said: “We are so excited to work alongside Niveda Realty and Create Construction to bring Bowline to life with our Prestige Student Living brand.

“Bowline brings something fresh to the student accommodation scene in the city, and we feel confident that, despite the many challenges students face in the current climate, finding their new home with us in the city won’t be one of them.”

Bowline will have a ‘boutique’ feel – with interior design by the award-winning ICA, each room designed to be exciting and stylish, and to inspire creativity.

The stunning luxury accommodation is being built by Create Construction and will consist of 47 self-contained studios and 357 en-suite cluster rooms, with communal facilities that include a sky lounge, private dining room, karaoke room, cinema room, fitness and wellbeing studio, and a games area.

A range of social and study spaces will help to create the ideal “home away from home” for residents, bringing that extra level of sophistication to student living. A range of rooms are available, from a standard en-suite priced from £125 per week to a deluxe studio, available from £205 per week.

Typical studio accommodation

Create Construction also completed another student scheme in Liverpool for Niveda in 2019. Having recently completed Manchester’s first Hampton by Hilton hotel, the company is now working on three other large student schemes in Liverpool, Coventry and Swansea, with more student and hotel projects in the pipeline.

Niveda Realty is bringing more than 500,000 sq ft of real estate to fruition worth a gross development value of £150m in the coming two years and has further plans for continued growth and expansion in the PBSA sector.

Gintas Karpavicius, managing director at Octanos Capital Advisory, said: “We are delighted to have assisted our long-standing client, Niveda Realty, with funding for the Bowline project in this challenging environment.

“This is testament to Niveda’s unwavering commitment to the PBSA sector and Liverpool in particular, and we look forward to working on future projects with Niveda across the UK.”