The Oaks – Student Roost’s 50th student accommodation, situated near Warwick University – is on course to open early, it has been revealed.
Student Roost has received the keys for the first phase of The Oaks, a brand-new student accommodation property in close proximity to the popular campus-based university.
The Oaks is, in fact, less than 10 minutes’ walk from Warwick University’s main campus, as well as being only 25 minutes away from Coventry city centre by bus.
One of the UK’s biggest student accommodation providers, and a major name in the fast-growing purpose-built student accommodation (PBSA) sector, The Oaks is Student Roost’s first property near Warwick University and its 50th in total across the UK.
The ‘stunning brick buildings’ feature a range of ‘high-quality en-suite rooms’ in shared flats and luxury studios, as well as including a rooftop terrace, three study rooms and a range of communal areas. The Oaks is also surrounded by plenty of green outdoor spaces.
With strict social distancing measures in place as a result of Covid-19, the first residents are expected to start moving in this month. Students who haven’t yet booked their accommodation for 2020/21 can book virtual viewings to see the facilities first-hand without needing to travel.
Playing host to 378 beds just a short walk from the Warwick University campus, the development is also hoping to free up more affordable housing within Coventry and Leamington Spa for local residents.
In addition, nine new jobs will be available for an assistant operations manager, customer service advisors, night owls, caretakers and housekeepers, as part of a team providing 24/7 support for residents.
Student Roost manages 49 other properties in 19 other university cities across the UK. It was one of the first student accommodation providers to allow residents to be released from rent payments if they had moved home early as a result of Covid-19.
Further to this, the company has put in place a ‘Booking Promise’ across all of its properties throughout the UK, which means residents can cancel for no extra charge if their university delays its course start dates, or if they cannot travel to their university or take up their place. This falls on top of Student Roost’s existing policy to set termly rent payment dates after residents have received their student loans.
Nathan Goddard, Student Roost chief executive, said: “I’m delighted that we’ve now received the keys for The Oaks. It’s our first accommodation near Warwick University, and it looks amazing.”
He added: “There’s a lot of uncertainty and stress at the moment for university students, so I’m especially pleased that The Oaks has been completed ahead of schedule. It means we can give this extra peace of mind to students that their accommodation is ready for them to move in. They can even choose to arrive over the summer if they need to.”
Stephen Rigby, chief investment officer for Student Roost, also commented: “It’s really pleasing to see the successful completion of The Oaks, a fantastic development near Warwick University which is in a new market for us.”
“We’ve incorporated many amenities which meet the needs of our residents in the Student Roost style that’s proved so popular in our other cities around the UK.”
He added: “I’m really grateful to the work of our development partners at McLaren Property, who have delivered a fabulous scheme ahead of schedule, and successfully overcome the current challenges presented to the construction industry in delivering projects whilst complying with strict government restrictions and social distancing rules.”
Virtual viewings of The Oaks are available to book by contacting firstname.lastname@example.org, while plans are underway for a socially-distanced official launch this summer.
Rival student housing firm Unite also recently announced the successful completion of the placing it carried out, raising gross proceeds of around £300 million, as it looks to expand its portfolio across the country.
This post has originally been featured in Property Investor Today.