£11m funding to fuel Staffordshire PBSA scheme
Newcastle-Under-Lyme’s Deakins Yard, formerly known as Sky Building, is set to be transformed into student accommodation, following £11m in funding from Brydg.
The 273-unit scheme by property developer Integritas Property Group (IPG) will include 122 studios with ensuites, 127 studios with ensuites and kitchens, 10 one-bedroom apartments, and 14 accessible areas.
Funding will fuel the initial work for the project, which has been named after prominent former resident Fanny Deakin, the notable politician from Newcastle-under-Lyme.
IPG is looking to alleviate the demand for student accommodation in the area thanks to its close proximity to Keele University, the largest campus university in the UK, with more than 10,000 students, as well as Staffordshire University, which hosts a further 19,190 students. It is also close to Royal Stoke University Hospital, which has over 6,000 staff, including medical students in training.
Mitchell Walsh, CEO of Integritas Property Group, says, “IPG is committed to seeing this project through. We understand that the site has been unsightly for a while, and we believe that transforming it into something that will greatly benefit the student population of Newcastle-under-Lyme and bring investment opportunities to the area will improve the prospects in the region.”
Jack Hodgkin, from Brydg, said, “Given the past difficulties with the project, Brydg sees the potential in the Deakin’s Yard site and what it can offer to the surrounding student landscape. This, however, requires an experienced developer with the expertise and understanding to execute such a project. We believe IPG, led by Mitchell Walsh, tick these boxes and are proud to be able to offer the funding required to take the project to completion.”
