Real estate developer Cassidy Group reveals ambitious plans to deliver over 3,000 student beds over the next two years as it looks to build on its impressive portfolio.
The Midlands-based development company is also planning over 1,000 private rented sector (PRS) apartments as it develops an exciting £500m worth of schemes aimed at long-term investors in the institutional, public and private equity capital markets.
The work, across nine projects in six cities, is part of an overall £1bn development pipeline as the company underlines its reputation for delivering high-quality investment opportunities.
Founded by brothers Patric and James Cassidy, the 35-year-old company specialises in identifying and acquiring land – and procuring the relevant planning permissions – in locations suitable for homes in the purpose-built student accommodation (PBSA) market and multifamily, private rented sector (PRS). Cassidy Group delivers these projects to build, with its client then operating or taking ownership of the completed scheme.
“These are exciting times in the student accommodation sector – and it’s one we know well, having delivered such projects throughout the UK since the 1990s.
“Our team has acquired multiple sites across the UK in major cities like Sheffield and Nottingham to create large-scale developments from £50m to £100m in both the PBSA and PRS sectors. We have a pipeline of projects to build over the next two years that amounts to £500m, as part of a £1bn portfolio.
“These are good forward funding opportunities for investors looking for a long-term secure income. We develop the schemes on their behalf before they take over the ownership or operation – we ensure that we deliver on time and on programme so that the apartments are ready to be rented.”Patric Cassidy, Director, Cassidy Group
The company’s flagship PBSA developments include the recently completed Deakins Place in Nottingham – a £70m scheme, comprising 703 student bedrooms which were completed for the start of the 2022/23 academic year on program and to budget.
Set in a shared landscaped garden fronting the River Leen, the development is close to the University of Nottingham’s Jubilee Campus and is now being operated by Student Roost, the UK’s third largest PBSA provider.
“Nottingham is a great city for students, and this is in an ideal location, presenting a great investment opportunity. We delivered the scheme on budget and on time and to the quality we demand.”Patric Cassidy, Director, Cassidy Group
As well as further PBSA schemes in Nottingham, the company is heading up developments in Bradford, Coventry, Sheffield and Wolverhampton.
Now Patric and the team, based in Meriden in the West Midlands, are looking forward to discussing further investment opportunities face-to-face with attendees at this year’s international real estate market event MIPIM, in Cannes.
“We have successfully worked closely with a variety of clients and investors over many years, delivering impressive schemes for large institutional investors and global funds. We can’t wait to continue to share the opportunities we foresee for end users in a range of high-quality investment projects in the UK.”Patric Cassidy, Director, Cassidy Group