UK: The Store House, a PBSA asset on Leeds’ Briggate, has been acquired by BlackRock and developer Manner.
Harris Associates and Savills have announced that funds and accounts managed by BlackRock will collaborate with Manner to deliver The Store House – a prime PBSA project in Leeds. Manner was advised by Harris Associates, Savills and Brecher, and BlackRock was advised by Knight Frank, Bryan Cave Leighton Paisner and HartDixon.
Designed by Corstorphine & Wright Architects, The Store House development will deliver 369 student bed spaces and encompasses 2,417 square metres of flexible retail space across the ground and basement levels, currently being marketed by Jackson & Criss and Forge Commercial Property. The project is expected to complete in time for the 2025/6 academic year.
The Store House will be developed to a BREEAM Excellent standard, ensuring that the design and materials used have minimum impact on the environment. The operational systems and management have been designed to minimise energy wastage by the implementation of a meticulous monitoring strategy across all parts of the building.
Richard James, managing director of Manner, said: “The Store House marks our entrance into the PBSA sector and the opportunity to showcase our vision for the future of this asset class, which places the changing needs of our residents and the environmental challenges of our cities at the heart of our philosophy.”
Jamie Harris, head of student accommodation at Harris Associates, added: “The Store House underscores that experiential and thoughtfully designed PBSA continues to be sought after, setting the stage for Manner to expand its transformative approach to new markets. This transaction emphasises the ascending trajectory of the student housing sector and demonstrates Manner’s forward-thinking model is well suited to global capital seeking superlative PBSA opportunities.”
