Major milestone reached in new student accommodation scheme near First Direct Arena in Leeds

In late 2022, Q Investment Partners (QIP), the Singapore headquartered private equity real estate firm, acquired the scheme in a deal worth approximately £15m.

James Coppack, from QIP Development Group, said: “We are very pro ud of our recent collaboration with Urban Group that include d a strategic revamp of our product standards as we continue to best p osition our upcoming UK PBSA developments. This Leeds asset will be an important addition to our expanding student housing platform.”

Once complete the development will offer 88 studio apartments with a lounge, gym, study rooms, a cinema room, laundry facilities, staffed reception area and cycle spaces, and will be operated by Prestige Student Living.

Nick Gould from Urban Developments (York), said: “Work on this development is progressing well which is testament to the strength and experience of the whole development team and everyone involved is pleased to reach these important construction milestones.

“We’re now looking forward to completing the internal fit-out and are on track to hand the development over to QIP this summer, with students moving in for the start of the 2024/25 academic year.”

Mark Henderson, a director from Brewster Bye, added: “After designing the scheme and securing planning permission for it in 2022, it’s brilliant to see it heading towards completion and once the scaffolding comes down in the coming weeks, it will reveal the façade and high-quality materials that are a key feature of the development.

“It’s also rewarding to see how its stepped design complements the surrounding streetscape, in such a great location, just a short walk from the universities and surrounded by bars, restaurants and shops, which will make it a very popular place to live.”