UK: Empiric Student Property (ESP) has submitted plans to upgrade and extend its Victoria Point PBSA asset on Manchester’s Hathersage Road.
The building is located next to the Grade II*-listed Victoria Baths – a former Victorian municipal swimming pool which now serves as a well-known event space.
ESP bought the leasehold for Victoria Point for around about £30 million in 2016.
The site consists of six blocks which house 566 student beds. The existing buildings are in need of repair, due to water damage and technically deficient cladding.
ESP’s vision is to increase the amount of student housing by redeveloping existing buildings on the site. In doing so, it aims for the buildings to also have a better relationship with Victoria Baths, creating a space that can be enjoyed by the local
The existing scheme will be remodelled, with an element of demolition and rebuild along with some proposals to extend retained buildings.
After the work the development will be home to 876 student beds.
According to planning documents, the proposed development has the potential to support investment of £100 million in Manchester’s construction sector, while directly supporting about 130 gross direct FTE jobs.
ESP is a provider and operator of modern, predominantly direct-let, premium student accommodation serving key UK universities.
