Moda and Apache submit plans for £258m Birmingham resi development
Moda Living and Apache Capital have submitted their plans for a 722-home build-to-rent project in Birmingham …
Future Generation secures loan for Sheffield scheme
Future Generation has refinanced a £39m development loan that will partly fund construction of the third phase of a Sheffield student accommodation scheme.
It comes at the end of five days of dealmaking for the company, which saw it secure another £55m development loan to construct two other student schemes in Loughborough and Nottingham.
The work on the final phase of Steel City, Sheffield, is being funded by the refinancing of another Maslow Capital development loan that covered construction of both Steel City and the completed Future Generation student scheme, Hythe Mills, in Colchester, Essex ..
EREC Estates plans to expand digs portfolio
EREC Estates is a joint venture company that brings together the sons of two very different real estate tycoons.
The Hon William Cadogan, son of Earl Cadogan, heads one half of the partnership, Trust Estates. The other half, European Real Estate Company (EREC), is led by Pan Rui, son of Pan Shiyi, chairman and founder of the developer SOHO China, which Blackstone is in talks with to buy for $4bn (£3.29bn).
The combination means EREC Estates, a specialist in student accommodation investment and development, is as well placed as any to take advantage of the hitherto growing influx of Chinese students into the UK …
Future Generation Unveils Two Pbsa Schemes
Future Generation Unveils Two Pbsa Schemes Alongside £55million Development Facility From Maslow Capital
● Development finance from Maslow Capital secured to construct Luxurio in Loughborough and The Vantage in Nottingham
● Both schemes have already received planning consent, McAleer & Rushe selected to begin construction immediately
● PBSA specialist Future Generation is a partnership between developer Southern Grove and Tadhamon Capital …
Edinburgh approves 248-bed student accommodation scheme
A large student accommodation development in Edinburgh’s Gorgie Road has won planning approval.
The 248 bedroom scheme by York-based developer S Harrison is made up of two buildings. It will have 35 studio apartments. The rest will be cluster apartments made up of six to 10 bedrooms.
Near the Water of Leith, the development is expected to serve students from the University of Edinburgh, Edinburgh Napier University, and Heriot-Watt University …
SPH commences £10.6m asset enhancement initiative on UK student accommodation
SINGAPORE Press Holdings (SPH) has commenced a £10.6 million (S$18.9 million) asset enhancement initiative to refurbish nine properties in its UK student accommodation portfolio.
This comes as the media group looks to meet the changing accommodation type preferences, as well as “maintain their competitive edge over other properties in the area”.
The refurbishment efforts will focus on assets under the Capitol Students brand acquired in September 2018, located in cities and towns with a predominantly domestic UK student population that is expected to grow, said the group on Wednesday …
International student accommodation group adds 235 beds to its Dublin portfolio
Chicago-headquartered investment firm Harrison Street, along with Global Student Accommodation Group (GSA), is developing a 235 bed student accommodation property in Dublin 8.
The project also includes 37 build-to-rent (BTR) units, which will be managed by GSA.
The property, known as Sweeney’s Corner, is scheduled for completion prior to the start of the 2021 academic year, and is located in the Liberties area …
Grainger lines up £305m PRS spree
Build-to-rent behemoth Grainger has launched a share placement to fuel a £305m acquisitions spree. The fundraise will push its secured pipeline over £1bn, with secured schemes worth £978m and £91m in planning and legals. Grainger will place up to 61.2 million new ordinary shares, representing around 10% of the company’s issued share capital. It is seeking to raise £185m, leveraged with around £120m of debt, to secure new projects and fund its secured pipeline in Birmingham; Canning Town, London; Cardiff and Nottingham. The BTR developer will commit £59m to new schemes which are in planning and legals.
Moda Living reaches £850m of live schemes on site
Moda Living, a leading developer, operator and owner of private, build-to-rent housing, has appointed Robertson as the main contractor on the first phase of their Springside scheme in central Edinburgh, with construction work due to start in Feb 2020.
This is the first of Moda Living’s sites in Scotland, and fifth in the UK. Once completed, Springside will offer 476 homes designed exclusively for rent, next generation resident amenities and 25,000sqft of retail & leisure space. The neighbourhood, purchased off market from Grosvenor Great Britain and Ireland, sits at the heart of the historic Fountainbridge district in Scotland’s capital …
Planning inspector overturns Exeter council’s decision on student flats plan
A planning inspector has allowed plans for a new £17m student flats complex in Exeter city centre.
Exeter City Council’s planning committee in September 2019 had turned down a scheme for Walnut Gardens off St David’s Hill and Hele Road, which would have seen the former BBC studio as well as Beech Hill House demolished.
A five storey block of student flats with a 166 bedspaces created, consisting of 138 student bedrooms within cluster flats, 19 self-contained studio flats and nine accessible studios, were included in the plans, as were a gym and a cinema …