UK: Real estate fund manager Moorfield Group has completed construction of a 293-bed £45 million PBSA scheme in Lincoln.
The scheme, named BGU Student Village, includes townhouses and cluster flats across nearly 90,000 square feet and seven buildings ranging from one to four storeys.
The development features landscaped gardens and will attain at least a 10 per cent Biodiversity Net Gain.
Bishop Grosseteste University (BGU) Student Village is being delivered as part of a development agreement with Melberry Developments, with Bowmer and Kirkland as contractors. The development, which took 15 months to build, is ready to welcome students from BGU.
Bowmer and Kirkland estimates that the social, economic, and local value realised by the scheme’s development amounts to £2.6 million.
Charles Ferguson-Davie, Co-CEO and chief investment officer at Moorfield Group, said: “Student housing is a sector of strategic focus for us, with the investment case supported by structural and demographic demand drivers, as well as the undersupply of fit-for-purpose accommodation. BGU Student Village will help to plug this gap, with the sector offering those with proven and long-standing expertise the opportunity to fund development and to refurbish existing purpose-built schemes as well as student houses of multiple occupation (HMOs).”
David Sarson, managing director at Melberry Development Management, said: “After our successful work together on Enso, the completion of BGU represents yet another vindication of the quality of product produced by Moorfield and Melberry’s development partnership. With a conscientiously thought-out amenity offering and best-in-class sustainability credentials, the scheme is all set to provide this generation of Lincoln’s students with high-quality accommodation they can be proud to call home throughout their educational journey.”
