City’s buy to let student market faces new purpose-built competition

24 May 2021 | Renting

City’s buy to let student market faces new purpose-built competition

A student accommodation provider has been granted planning consent to turn a building in central Leeds into a 350-bed purpose-built block.

Study Inn’s £35m new scheme will involve the conversion with a glazed link to a new 15-storey building.

Facilities will include 24/7 on site management; room cleaning and linen services; wellness spa; sauna; steam room; hot beds; gym; yoga studio; games room; lounge; meeting space; and cinema room.

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Study Inn is set to start construction work later this summer with the opening of the first phase of the development set for September 2022.

Jack Jefferson, acquisitions director at Study Inn, says: “We are very pleased to have received planning consent on this landmark site. It represents a £35m investment in the city and as both a developer and an operator, it will be a testament to our belief in Leeds and in the continuing resilience of the purpose-built student accommodation sector.

“This will be the sixth property in our new 2nd generation of higher quality Study Inns, and we are focused on successful delivery, quality 24/7 management, and the wellbeing of our residents in a safe and secure environment.”

In addition to Leeds, Study Inn is currently building its latest properties in Exeter, opening in September 2021 and Leicester, opening in September 2022 to add to its operating properties in Bristol, Loughborough, and Nottingham.

This post has originally been featured in Letting Agent Today.