Construction contract signed for 275-bed student accommodation scheme

GMI Construction Group Ltd has secured a contract with Olympian Homes for the construction of a £50m student accommodation scheme on the site of a former cinema and Bingo Hall in York.

Located to the south east of the city centre, in the Fulford area, the 80,000 sq ft site will feature a four-storey building comprising 275 beds and facilities including a gym, yoga studio, games room, co-working and group dining areas.

In recognition of the location’s history the scheme will also feature a cinema.

This is the latest purpose-built student accommodation (PBSA) development to be delivered by Olympian Homes, which is also active in hotel, Build to Rent, co-living and affordable housing sectors.

The project is being delivered in partnership with funder Cain International.

Construction is due to begin in the coming weeks, following completion of archaeological works.

Olympian Homes’ scheme will be named Rialto House, recognising the famous cinema that once stood on the site.

Opened in 1913 and demolished in 2003, the cinema hosted many famous performances, including The Beatles who performed there four times in 1963.

Latterly the site of the cinema became a car park for the adjacent bingo hall, which has also since closed and is included in the footprint of this PBSA scheme.

GMI is highly active in the PBSA market, with this new development bringing the number of student beds it is building in York to almost 600.

This includes 303-beds at a scheme in James Street on behalf of York-based S Harrison Developments, which is currently under construction.

Andrew Hurcomb, GMI Construction’s regional director for Yorkshire, said: “We’re happy to have secured this contract with Olympian Homes, which is allowing us to continue to contribute to the creation of much needed purpose-built student accommodation in York.

“Rialto House is a great location, close to the city centre and the university campuses and will support the city in attracting students who want to study in this beautiful and historic city.”

James Lindridge, COO & development director at Olympian Homes, said: “This marks the delivery phase of another scheme for Olympian Homes and aims to address the undersupply of high-quality, purpose-built student accommodation within York.

“It has been a pleasure to work with the council, local stakeholders and GMI to deliver this scheme.”

William Sharpey, senior construction manager at Olympian Homes, added: “From identifying GMI as our Contracting Partner on Rialto House to getting on site it has been a positive journey, not without its challenges in a difficult economic environment for construction.

“I look forward to working with GMI on the delivery of the scheme and exploring synergy between our businesses on upcoming opportunities.”