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UK: Student accommodation provider Unite Students and Manchester Metropolitan University have agreed a £390 million joint venture which would see Cambridge Halls redeveloped to provide more than 2,000 student beds.
The current structure was established in the 1990s, providing room for 770 students. Unite Student’s scheme will see that figure nearly tripled, dividing 2,302 beds between two buildings.
A significant expansion to Manchester Met’s on-campus student living, students will be housed in a mix of studio and cluster flats at a range of price points.
Unite Student’s largest-ever project will include amenities such as a rooftop exercise zone, sports pitches and communal kitchen, as well as dining and lounge space for 400 students. The site will also include a health centre.
Cycle and pedestrian routes through the development are planned alongside Cambridge Street community spaces and public areas. As developer, asset manager and operator, Unite Students will hold 70 per cent of the venture with contractor Graham Construction set to begin work Monday February 9th.
“We’re thrilled to finalise our joint venture partnership with Manchester Metropolitan University and look forward to seeing the development begin to take shape this year,” Unite Students chief executive Joe Lister said. “This new property will deliver modern, sustainable on campus accommodation that meets the needs and expectations of today’s students. By substantially increasing the number of beds at Cambridge Halls, we’re also playing our part in freeing up privately rented homes for local families and young professionals.”
“We are delighted to announce our partnership with Unite Students for the redevelopment of Cambridge Halls,” Manchester Met chief property officer Andrew Fallon said. “This joint venture will provide much needed additional purpose-built student accommodation in Manchester, right on the doorstep of our University. The project will not only enhance the quality of housing for students, but also benefit the surrounding community through new health, wellbeing and retail offerings.”
Highlights:
• A £390 million joint venture between Manchester Metropolitan University and Unite Students will replace the existing Cambridge Halls site, increasing student beds from 770 to 2,302
• The new development will feature a mix of studio and cluster apartments across two buildings, with amenities including a rooftop exercise zone, sports pitches and a health centre
• As the developer, asset manager, and operator, Unite Students will hold a 70 per cent stake in the venture, with Graham Construction scheduled to begin work Monday 9 February
• The project is cited as providing much-needed purpose-built student accommodation directly on campus, with planned community benefits such as new pedestrian routes and public spaces.
