Coventry remains student accommodation hotspot

The site in Clay Lane, Walsgrave

Improved infrastructure around the universities of the West Midlands will help them to become the enablers of growth, a leading academic in the region has said.

Professor John Latham, Vice Chancellor of Coventry University, said the thousands of students swelling the populations of cities like Birmingham, Coventry and Wolverhampton were nevertheless welcome to the region because they were catalysts to growth.

Speaking at the West Midlands Forum for Growth, held at The Vox, Resorts World Birmingham, Prof Latham said the higher education sector was just as competitive as other industries and as such, an infrastructure and support system needed to be in place to enable that sector to flourish.

He said: “People ask me why we are building so much student accommodation in Coventry at the moment and I tell them it’s because Coventry University has around 30,000 students at the moment and the infrastructure has to be there to support them.

“New student accommodation will also free up existing housing elsewhere and help the city meet its wider needs.”

Due to the situation, any site which can be used for student accommodation is fetching a premium.

Property auctioneer Loveitts is therefore expecting strong interest from investors when a potential gold mine goes under the hammer next week.

One of the lots is a 0.27-acre site in Clay Lane, Walsgrave which has the benefit of already having planning permission for a 37-bed student block.

Sally Smith, Loveitts director and auction manager, said: “This is an incredible opportunity for property investors as the land comes with approved planning permission for student accommodation – a sector which has proven to be very profitable, especially in Coventry.

“Student accommodation is a lucrative business. More and more land and buildings are being transformed into flats to meet the growing demand for student homes. As Coventry University continues to grow, so does the need for student accommodation in the city.”

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