Student Roost – one of the UK’s largest purpose-built student accommodation (PBSA) providers – has received keys for phase one of its 50th property, and its first in Warwick.
Establishing strict social distancing measures, the PBSA – called The Oaks – is on course to open early with the first residents expected to move in this month. Students who haven’t booked their accommodation can schedule virtual viewings to see the facilities without needing to travel. The PBSA is less than ten minutes’ walk from Warwick University’s main campus and 25 minutes from Coventry city centre by bus.
“It’s really pleasing to see the successful completion of The Oaks, a fantastic development near Warwick University which is in a new market for us.
“We’ve incorporated many amenities which meet the needs of our residents in the Student Roost style that’s proved so popular in our other cities around the UK.”Stephen Rigby, Chief Investment Officer, Student Roost
The Oaks has brick buildings featuring a range of high-quality ensuite rooms in shared flats and luxury studios. The complex also includes a rooftop terrace, three study rooms and a range of communal areas – surrounded by green outdoor spaces.
Student Roost agreed the forward funding deal for The Oaks with McLaren Property in November 2019. The Oaks will be delivered in two phases (The Oaks 1 and The Oaks 2) and consists of 378 beds and 638 beds, respectively. The development should also free up more affordable housing within Coventry and Leamington Spa for local residents.
“I’m really grateful to the work of our development partners at McLaren Property, who have delivered a fabulous scheme ahead of schedule, and successfully overcome the current challenges presented to the construction industry in delivering projects while complying with strict government restrictions and social distancing rules.”Stephen Rigby, Chief Investment Officer, Student Roost
Student Roost manages 49 other properties in 19 university cities across the UK. It was one of the first student accommodation providers to allow residents to be released from rent contracts if they had moved home early as a result of Covid-19.
The company has also put in a Booking Promise across all its properties in the UK. Residents can cancel for no extra charge if their university delays its course start dates, or if they cannot travel to their university or take up their place. This is on top of Student Roost’s existing policy to set termly rent payment dates after residents have received their student loans.
“I’m delighted that we’ve now received the keys for The Oaks. It’s our first accommodation near Warwick University, and it looks amazing.
“There’s a lot of uncertainty and stress at the moment for university students, so I’m especially pleased that The Oaks has been completed ahead of schedule. It means we can give this extra peace of mind to students that their accommodation is ready for them to move in. They can even choose to arrive over the summer if they need to.
“We’re also able to provide extra reassurances with our Booking Promise. This guarantees that residents booking with us are protected, even if they cannot travel to their accommodation or if course dates are delayed.”Nathan Goddard, CEO, Student Roost