UK: Construction work has started on a 1,209-bed PBSA and coliving campus close to the University of Warwick.
McLaren Construction has broken ground on the project on behalf of developer and investor Topland, in a JV with McLaren Property, and forward funded by iQ Student Accommodation. Previously occupied by Barclays Bank, the site was acquired by Topland in 2013.
Ground works and foundations are progressing following the demolition of the former office campus. The £160 million project will include 131 coliving beds, 6,000 square feet of retail space, and resident amenities including study lounges, dedicated game and TV areas, private dining rooms and a gym and yoga studio.
William Davies, director of asset management at Topland, said: “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.”
Bruce Ruddle, development director at McLaren Property, added: “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.”
The development’s first phase will complete in 2025, with the second phase following in 2026.
Matt Loughlin, chief development officer at iQ Student Accommodation, said: “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.”
The project was designed by architects Corstorphine and Wright, with HWA acting as structural engineer.
