Previous Development Projects
Andromeda House, Southampton
We acquired an office building with three tenants and obtained planning permissions to convert and extend with an extra floor to provide 38 self-contained student studios.
The development was completed in September 2016 and studios are fully let for the academic year. Term debt finance has been obtained which repaid the build finance and returned equity to the investor. This development has now been sold.
Town centre, Exeter
The owning LLP – with us undertaking the roles of project managers and joint funding partners - has purchased a single storey retail arcade in the centre of Exeter. A planning application is being prepared to redevelop with ground floor retail space and 50 student studios over three additional floors. Depending on the outcome of the application, we hope that the development can be scheduled to be completed so the studios can be let for the 2019/20 academic year.
Fairchild House, Southampton
This office building in Southampton already had existing consent for conversion and extension to 14 flats when we acquired it. But we believed the site had yet more potential and our subsequent planning applications improved the consents to allow for the conversion and extension of the building to provide 45 student studio apartments. We were project managers and joint funding partners in the LLP, the development was completed in September 2015 and the studios were fully let for the academic year.
Mayfield House, Southampton
Having purchased a closed restaurant in Southampton with consent for redevelopment into five flats, we're project managers and funding partners in the LLP. We went on to obtain an approved planning consent for 17 student studio apartments, with the project being completed in September 2015. All the studios are now let.