1,200-bed PBSA scheme set to be largest in Warwick
Construction has begun on a £160m purpose-built student accommodation (PBSA), set to be the largest private accommodation scheme servicing the University of Warwick.
McLaren Construction has broken ground on the site which was previously owned by Barclays Bank, on behalf of developer and investor Topland, in a JV with McLaren Property, and forward funded by iQ Student Accommodation.
Comprising 1,209 beds, the scheme is set to tackle an undersupply of student accommodation and create 1,078 PBSA beds, 131 co-living beds and 6,000 sq ft of retail space. iQ says “best-in-class amenities” will be provided for residents including study lounges, game lounges, a TV lounge, private dining rooms, a gym and a yoga studio.
Ground works and foundations are progressing, following the demolition of the former office campus. The development’s first phase will complete in 2025 and the second phase following in 2026.
William Davies, director of asset management at Topland, said: “We’re excited to be working alongside our partners to bring forward this new best-in-class accommodation right by the University of Warwick. Consistent growth within the PBSA market has enabled us to move forward with the project at pace as we continue to explore alternative sectors that complement our existing pipeline of residential and hotel developments.”
Bruce Ruddle, development director at McLaren Property said: “It is great to see McLaren Construction making an exceptional start on this 1,209-bed PBSA project. The relationship between Contractor, iQ and Topland continues to develop very positively as we work towards the first completion date in 2025. I’d like to offer a big thank you to the professional team who have excelled through contract negotiation and design stages.”
Matt Loughlin, chief development officer at iQ Student Accommodation said: “We’re delighted that things are moving on this exciting new development, just a stone’s throw from the University of Warwick’s campus. With a significant undersupply of beds in the market, we believe it will provide much needed, high-quality and conveniently located accommodation for students choosing this vibrant campus for their studies.”
The team involved in the project include Corstorphine and Wright (architects); HWA (Structural Engineer); Chord (MEP), Gleeds (QS) and Stace (PM/EA).
