A forward funding deal was agreed with Singapore-based real estate firm Q Investment Partners (QIP) on a new 303-bedroom purpose-built student accommodation (PBSA) scheme in York, which is being developed by S Harrison.
Developer S Harrison secured planning permission for the QIP invested PBSA development, with works now underway.
Homes for Students’ brand – Prestige Student Living – will be managing the scheme when complete, providing much needed and professionally operated housing for future students.
The mix of 195 cluster apartments and 108 studios will be spread across a three to five storey development on James Street in York.
“James Street is one of the student schemes that is part of a £200m build-to-core UK student housing venture between QIP and property investment group, Soilbuild. This expansion complements our existing stabilised portfolio, in partnership with Ares, that encompasses c.1,000 bedrooms across the UK’s leading student cities. This latest partnership reaffirms our unwavering commitment to the sector and allows QIP to leverage our existing platform scale to meet the rising demand for high-quality student accommodation in the UK.”Peter Young, CEO and Co-Founder, QIP
York based S Harrison is working with QIP and a wider development team to deliver the project in time for the 2025 student intake year.
GMI Construction Group has been appointed as contractor alongside York based CSP Architects who have designed the A-shaped footprint of the scheme.
“GMI has a strong track record of delivering student accommodation across the North of England and the Midlands. The James Street development is in an ideal location given its within walking distance of two universities and will help York confirm its position as a top study destination by expanding the range of quality facilities available for students.”Andrew Hurcomb, Yorkshire’s divisional Managing Director (MD), GMI Construction
The PBSA development will include a large external communal area, study spaces, a games room, cinema, gym and laundry facilities.
The site’s central location means it will mostly be car-free and a large cycle store forms part of the scheme.
“We have been headquartered in York for over 70 years and have successfully designed and delivered many successful PBSA schemes in York, Leeds and Edinburgh in recent years, totalling thousands of bedrooms. Our ability to create exceptional developments in highly sought after locations means we have strong relationships with many leading PBSA and institutional investors, both in the UK and globally, and we’re very pleased to agree our first deal with QIP.
“High quality PBSA is in real demand in York, especially for schemes like this one, which is so close to both the University of York and York St John University.
“When this is combined with our local knowledge and QIP’s experience in the sector, there’s no doubt this development will prove to be very popular with the city’s student population. This scheme ticks so many boxes as it’s creating new, energy-efficient homes for students in an easily accessible location, as well as benefiting the local community with improvements to both pedestrian and cycle infrastructure, as well as a new community park for all.”Martyn Harrison, Chairman, S Harrison
With plenty of soft landscaping and a south facing public pocket park on the site’s southeast corner and over 200 sqm of green space, the Lawrence Street streetscape – which is a primary route into the city – will also be greatly improved for resident use.
Earlier in the year, QIP began a joint venture (JV) with Solibuild on a new £200m PBSA platform. The JV will fund two development opportunities in York and Newcastle.