UNITE RELEASE PLANS TO BUILD NEW 620 BED STUDENT ACCOMMODATION ON DERBY ROAD
In the Nottingham Post on Monday 12 August 2019, Matthew Bunn, reporting on plans by the student accommodation provider Unite to build a new 620-bed a development for students on land on Derby Road (Jaguar-Toyota car showrooms) adjacent to its present 484-bed student accommodation on Radmarsh Road, wrote ...
Developer announces plans to build new 620-bed student accommodation in Derby Road
The development will cost about £48 million
Jaguar is due to vacate its Derby Road showroom. Unite has announced it is creating a development in the road, near the University of Nottingham.
A developer has announced its intention to create a 620-bed block of student flats in Derby Road - but mystery surrounds the exact location of the development.
Student accommodationgroup Unite has announced it has exchanged contracts to acquire the development which will cost an estimated £48 million.
The plans are subject to planning consent - but the location has not been revealed due to a confidentiality agreement.
However, it has been confirmed the block would be built on a car showroom near The University of Nottingham. Nearby Jaguar is due to vacate its showroom in Novemberand move to a new site in Enterprise Way.
Nick Hayes, Unite group property director, said: "This latest acquisition reflects our strategy of aligning our business with mid and high tariff universities in cities where there is strong demand for affordable, high-quality student accommodation.
The new development, if given the go-ahead, would be ready for the 2022/23 academic year and would form part of Unite's target of maintaining developments of 2,000 beds a year.
Plans for more accommodation comes as work continues across the city on a range of student developments. This includes a 353-bed development in Talbot Street, the skeleton of which is now taking shape.