Accommodation for hundreds more students to be built in city
Work has started to build a 303-bedroom student scheme in York, after a forward funding deal was agreed with Singapore-based Q Investment Partners (QIP).
The mix of 195 cluster apartments and 108 studios will be spread across a three to five-storey development on James Street,
Planning permission was secured for the scheme by S Harrison last year, and the York-based firm is working with QIP and a wider development team to deliver the project in time for the 2025 student intake year.
It will then be operated by the Prestige Student Living brand of Homes for Students. GMI Construction Group has been appointed as contractor, and it is expected the development will complete in the spring of 2025.
Peter Young, CEO and co-founder of QIP, said: “James Street is one of the student schemes that is part of a £200m build-to-core UK student housing venture between QIP and property investment group, Soilbuild.
“This expansion complements our existing stabilised portfolio, in partnership with Ares, that encompasses around 1,000 bedrooms across the UK’s leading student cities.
“This latest partnership reaffirms our unwavering commitment to the sector and allows QIP to leverage our existing platform scale to meet the rising demand for high-quality student accommodation in the UK.”
Martyn Harrison, from S Harrison, said: “We have been headquartered in York for over 70 years and have successfully designed and delivered many successful Purpose Built Student Accommodation (PBSA) schemes in York, Leeds and Edinburgh in recent years, totalling thousands of bedrooms.
“Our ability to create exceptional developments in highly sought after locations means we have strong relationships with many leading PBSA and institutional investors, both in the UK and globally, and we’re very pleased to agree our first deal with QIP.
“High quality PBSA is in real demand in York, especially for schemes like this one, which is so close to both the University of York and York St John University.”
The latest development has been designed by CSP Architects and includes a large external central communal area.
It also offers study space, a games room, cinema, gym and laundry facilities. The site’s central location means it will mostly be car-free and a large cycle store forms part of the scheme.
Yorkshire’s divisional managing director at GMI Construction, Andrew Hurcomb, said: “GMI has a strong track record of delivering student accommodation across the North of England and the Midlands.
“The James Street development is in an ideal location given its within walking distance of two universities and will help York confirm its position as a top study destination by expanding the range of quality facilities available for students.”
Savills advised S Harrison on the sale of the site.