Joint venture acquires 369-bed student accommodation scheme
Harris Associates and Savills have confirmed funds and accounts managed by BlackRock will collaborate with developer Manner to deliver The Store House, a Purpose Built Student Accommodation (PBSA) project in Leeds.
Featuring 369 bed spaces and amenities, the building is on Briggate, spanning over 25,800 sq ft of retail space.
The Store House is within walking distance of Leeds Becket University and University of Leeds campuses and has been designed by Corstorphine & Wright Architects.
The development encompasses flexible retail space across the ground and basement levels, currently being marketed by Jackson & Criss and Forge Commercial Property. The project will complete in time for the 2025/6 academic year.
Manner was advised by Harris Associates, Savills and Brecher. BlackRock was advised by Knight Frank, Bryan Cave Leighton Paisner and HartDixon.
Jamie Harris, head of student accommodation at Harris Associates, said: “The Store House underscores that experiential and thoughtfully designed PBSA continues to be sought after, setting the stage for Manner to expand its transformative approach to new markets.
“This transaction emphasises the ascending trajectory of the student housing sector and demonstrates Manner’s forward-thinking model is well suited to global capital seeking superlative PBSA opportunities.”
Lizzie Beagley, a director in Savills Operational Capital Markets’ UK PBSA Investment and Co-Living team said: “We’re pleased to have worked with Manner and BlackRock to enable this stand-out development to come to fruition.
“With over 65,000 full time students studying at the five institutions in Leeds, this development is fantastically located within walking distance from both the University of Leeds and Leeds Beckett University.”
Richard James, managing director of Manner, added: “The Store House marks our entrance into the PBSA sector and the opportunity to showcase our vision for the future of this asset class, which places the changing needs of our residents and the environmental challenges of our cities at the heart of our philosophy.”
