UK: PBSA developer and operator Study Inn Group has opened a 288-room, £37 million property on Nottingham’s Talbot Street.
The former Experian headquarters has undergone an extensive redesign, remodelling and extension of the building. It now provides studios, shared serviced apartment bedrooms, a wellness spa with sauna, steam room and hot beds, yoga studio, games room, gymnasium, big screen cinema, meeting rooms and conservatory.
The project opened with 98 per cent occupancy and was delivered on budget one week ahead of schedule.
The property will now be held and operated in Study Inn Group’s second portfolio alongside recent developments in Bristol and Loughborough
.Further secured portfolio 2 pipeline projects include Exeter (opening 2021), Leeds phase 1 (opening 2021), Leeds phase 2 (opening 2022) and Leicester (opening 2022).
Study Inn’s portfolio 1, comprising of ten properties in Coventry, Nottingham, Sheffield and Cambridge, was sold to Arlington Advisors for £135 million in December 2017.
Edward Jefferson, founding owner director at Study Inn said: “It’s very encouraging to know that we can fund, develop, let and operate our properties in these uncertain times. It’s an endorsement of the Study Inn brand standard and the level of service we provide. We are delighted with this project and it’s a quality addition to our portfolio 2.”
