York site sold for student accommodation

MAPLE GROVE DEVELOPMENTS and property development company Yorvale have sold a site in the centre of York to McLaren Property, the real estate and investment division of the McLaren Construction Group, for student accommodation.

The site on Hallfield Road has planning consent for a 326 unit scheme which will be delivered by Maple Grove’s sister company, Eric Wright Construction.

The scheme will comprise two blocks, each with four storeys, providing high quality en-suite accommodation.

Eric Wright Construction will start on site in March for an 18-month programme, due to complete in time for the 2016/17 academic year student intake.

Managing director of Maple Gove Chris Evenson said: “We knew that this site had significant potential for development as student living and, by delivering the public consultation and securing planning consent prior to negotiations, we were able to maximise its value.

“We are delighted to have attracted a developer of McLaren’s stature to the project and the deal demonstrates our ability to acquire sites that can attract interest from major property development and investment names, feeding our continued growth.”

John Gatley of McLaren Property said “We continue to search for development opportunities in similar top tier university towns and cities.”

The site lies outside the city’s historic walls and is just a short bus or bike ride from York University campus. There is an existing cycle path running adjacent to the site, which is also within walking distance of both York St John University and the city centre.

John Wilson, managing director, Eric Wright Construction added: “This deal demonstrates how the breadth of disciplines within the Eric Wright Group can be leveraged to drive growth across our business units.

“The Hallfield Road scheme will build on our portfolio of successful student accommodation projects, which also includes the £18m Opal Court Phase 2 in Leeds, reiterating our expansion in Yorkshire.”