Developer Cassidy has purchased a purpose-built student accommodation (PBSA) development site in Beeston, Nottingham, from Monk Estates and William May Developments for an undisclosed price.
In May, planning permission was granted for the eight-storey, 419 student studios scheme, which is called The Square.
Liam Brennan of Cassidy said: “Nottingham is one of three major cities in the UK showing outstanding growth. With the ever-increasing student bed shortage, and lack of quality new apartments, our schemes are in prime locations in walking distances of both the University of Nottingham campuses and the main Nottingham train station and tram lines, all of which is great news for our future investors and operators.”
He added: “As we have said before, our scheme will offer something fantastic for local students who are currently living in houses in multiple occupation in Beeston and this can create problems for people trying to buy in the town. Our scheme will help free up homes for families to live in and encourage the use of public transport. Beeston has fantastic infrastructure, and the new development is designed to enhance that. We’re excited to see this site, which has sat derelict for so long, finally be the home of something exciting for Beeston.”
