Contractor McLaren Construction has announced that it has broken ground on a new 1,209-bed PBSA project on behalf of developer and investor Topland, in a joint venture with property developer McLaren Property and forward funded by PBSA provider iQ Student Accommodation.
Previously occupied by Barclays Bank, the site was acquired by Topland in 2013 and is set to become the largest private accommodation scheme servicing the University of Warwick upon completion.
“It is great to see McLaren Construction making an exceptional start on this 1,209-bed PBSA project. The relationship between Contractor, iQ and Topland continues to develop very positively as we work towards the first completion date in 2025. I’d like to offer a big thank you to the professional team who have excelled through contract negotiation and design stages.”
Bruce Ruddle, Development Director, McLaren Property
Ground works and foundations are progressing, following the demolition of the former office campus. The development’s first phase is set to complete in 2025 and the second phase following in 2026.
“We’re excited to be working alongside our partners to bring forward this new best-in-class accommodation right by the University of Warwick. Consistent growth within the PBSA market has enabled us to move forward with the project at pace as we continue to explore alternative sectors that complement our existing pipeline of residential and hotel developments.”
William Davies, Director of Asset Management, Topland
The £160m scheme will include 131 co-living beds, c.6,000 sq ft of retail space and residential amenities including study lounges, dedicated game and TV areas, private dining rooms, a gym and yoga studio. The development aims to address the significant undersupply of student accommodation in Warwick.
“We’re delighted that things are moving on this exciting new development, just a stone’s throw from the University of Warwick’s campus. With a significant undersupply of beds in the market, we believe it will provide much needed, high-quality, and conveniently located accommodation for students choosing this vibrant campus for their studies.”
Matt Loughlin, Chief Development Officer, iQ Student Accommodation
The team involved in the project include Corstorphine and Wright (architects); HWA (Structural Engineer); Chord (MEP), Gleeds (QS) and Stace (PM/EA).
