Melburg Capital submits a planning application to convert the former South Plaza office block in Bristol city centre into a purpose-built student accommodation (PBSA) development. Melburg was advised by Savills and Burgess Okoh Saunders LLP. Subject to approval, Melburg hopes the accommodation will be open by September 2025.
The £100m scheme will deliver 370 new student beds, alongside a state-of-the-art gym with changing facilities, full café and leisure facilities, a screening room, a golf simulator, and 370 secure bike storage spaces – one for each student as part of the proposed zero-student car strategy.
As part of Melburg Capital’s commitment to achieving operational carbon neutrality across its growing portfolio, repurposing the office block will save 4,215 tonnes of embodied CO2, compared to a demolition and rebuild.
The embodied carbon will be 33% lower than a new ultra-low energy steel framed building, the equivalent of powering 1,504 houses, 25 long haul flights or running 49 London buses for a whole year. The proposal will also save an additional 3,000 tonnes of CO2 by hooking up to Bristol’s District Heat Network.
The proposed ground-floor front extension of the PBSA scheme will also have a green roof and planting in the public realm, which results in a biodiversity net gain of 2,000%.
“This ambitious, highly sustainable proposal seeks to provide Bristol with much needed PBSA, and in so doing alleviate pressure on the chronically constrained housing market. We will be exploring operational optionality through our advisors Savills, are considering acquiring existing platforms and intend on growing our student housing exposure extensively as part of our wider investment into the living space.”Jack Burgess, Chief Executive, Melburg
This planning submission follows on from Melburg’s proposed Redcatch Quarter development in Knowle, Bristol. Plans include 850 residential beds as part of a significant investment into ‘Living’ sectors, to complement the company’s expansive UK industrial portfolio which exceeds 2.5 million sq ft.
Melburg Capital – a highly discreet, fully integrated, privately owned real estate investment and development company – invests in direct UK property across all sectors. Since inception, it has invested over £1bn through value-add and opportunistic UK property acquisitions.