Urbanite, under the ‘Urbanite Living’ brand announces a new joint venture with Prescient Capital, a private equity real estate business. The new venture will oversee the development of a portfolio of over 2,000 units of purpose-built student accommodation (PBSA).
The portfolio currently comprises one operational asset – The Coal Yard I – in York. The PBSA development includes 108 units. The pipeline includes a further 1,800 student homes which are currently at various stages of the planning or development cycle.
The new joint venture portfolio will soon expand further, as construction has now started on The Electric Press PBSA scheme in Sheffield which will deliver 127 units. Opening its doors in September 2022, the scheme will include an open courtyard, expansive roof garden and a convivial common room. Residents benefit from being close to both The University of Sheffield and Sheffield Hallam.
In addition, ground will be broken on another 462 units in 2022 in locations including Glasgow and Leicester, as well as a second development – The Coal Yard II in York – which will deliver 83 student beds. A 10 minute walk from York St John’s University, The Coal Yard II scheme will have shared lounges and a roof terrace. The development is due to open in September 2022.
Urbanite is redefining student accommodation by providing state-of-the-art facilities and colourful experiences that aim to change the way students live, study and play. They aim to provide students with the best start, focussing on creating real communities. The company sees this venture’s portfolio going from strength to strength over the next few years.