Northwest-based ethical property developer IPG is set to transform Deakins Yard, formerly known as Sky Building, into purpose-built student accommodation (PBSA) thanks to over £11m of funding from property financing and lending platform Brydg.
The funding will fund the initial work of the new Deakin’s Yard development, which is now being managed by IPG. The development is named after prominent former resident Fanny Deakin, the notable politician from Newcastle-under-Lyme.
Deakins Yard will deliver 273 units – a mix of 22 studios with ensuites, 127 large studios with ensuites and kitchens, ten one-bedroom apartments and 14 accessible rooms. Construction began last month, with the first phase expected to complete in Q3 2024.
The scheme aims to meet the ever-increasing demand for PBSA in the Keele and Newcastle-under-Lyme areas.
“IPG is committed to seeing this project through. We understand that the site has been unsightly for a while, and we believe that transforming it into something that will greatly benefit the student population of Newcastle-under-Lyme and bring investment opportunities to the area will improve the prospects in the region.”Mitchell Walsh, CEO, Integritas Property Group
Located at 22 Brunswick Street, Deakins Yard is nearby Keele University – the largest campus university in the UK with over 10,000 students – alongside Staffordshire University, which hosts a further 19,190 students. It is also close to Royal Stoke University Hospital, which has over 6,000 staff, including medical students in training.
“Given the past difficulties with the project, Brydg sees the potential in the Deakin’s Yard site and what it can offer to the surrounding student landscape. This, however, requires an experienced developer with the expertise and understanding to execute such a project. We believe IPG, led by Mitchell Walsh, tick these boxes and are proud to be able to offer the funding required to take the project to completion.”Jack Hodgkin, Brydg
Integritas Property Group (IPG) is an ethical property developer based in the Northwest, priding itself on a people-first approach to property development. The company has a broad property portfolio — from bespoke city-centre apartments to student accommodation.
Founded in 2014 and headquartered in Mayfair, London, Brydg has originated over £1bn of loans funded and has built a trusted and coveted reputation amongst family offices, institutional investors, debt advisors and real estate developers.