BlackRock and Manner acquire The Store House PBSA

Harris Associates and Savills announce prime purpose-built student accommodation (PBSA) project - The Store House - in Leeds is being acquired by BlackRock and Manner.

The Store House student accommodation development in Leeds | PBSA News
The Store House student accommodation development in Leeds.

Harris Associates and Savills announce that funds and accounts managed by BlackRock will collaborate with Manner to deliver The Store House – a prime PBSA project in Leeds. Manner was advised by Harris Associates, Savills and Brecher, and BlackRock was advised by Knight Frank, Bryan Cave Leighton Paisner and HartDixon.

Designed by Corstorphine & Wright Architects, The Store House development epitomises Manner’s unique perspective on reshaping the student housing experience and vision of rejuvenating urban centres into dynamic spaces for living, learning and forging connections.

“The Store House marks our entrance into the PBSA sector and the opportunity to showcase our vision for the future of this asset class, which places the changing needs of our residents and the environmental challenges of our cities at the heart of our philosophy.”

Richard James, Managing Director, Manner

Situated on the illustrious Briggate, the scheme will deliver 369 student bed spaces and the development encompasses 2,417 sqm of prime-positioned flexible retail space across the ground (1,251 sqm) and basement levels (1,166 sqm), currently being marketed by Jackson & Criss and Forge Commercial Property. The project is expected to complete in time for the 2025/6 academic year.

Deliberately curated to support the holistic student journey, the expansive amenity spaces accommodate diverse areas dedicated to enhance wellbeing, social interaction and productivity.

The PBSA scheme is located in the thriving retail and entertainment district, which offers residents an abundance of lifestyle amenities on its doorstep, and students benefit from being within walking distance of Leeds Becket University and University of Leeds campuses.

“We’re delighted to have worked with Manner and BlackRock to enable this stand-out development to come to fruition. With over 65,000 full time students studying at the five institutions in Leeds, this development is fantastically located within walking distance from both the University of Leeds and Leeds Beckett University.”

Lizzie Beagley, a Director in Savills Operational Capital Markets’ UK PBSA Investment and Co-Living team

The Store House is aligned to both Leeds’ and the Government’s Net Zero Carbon targets. The building aims to achieve high sustainability credentials in both design and operation and will be developed to a BREEAM Excellent standard – ensuring that the design and materials used have minimum impact on the environment. The operational systems and management have been designed to minimise energy wastage by the implementation of a meticulous monitoring strategy across all parts of the building.

“The Store House underscores that experiential and thoughtfully designed PBSA continues to be sought after, setting the stage for Manner to expand its transformative approach to new markets. This transaction emphasises the ascending trajectory of the student housing sector and demonstrates Manner’s forward-thinking model is well suited to global capital seeking superlative PBSA opportunities.”

Jamie Harris, Head of Student Accommodation, Harris Associates