Unite Students

Unite Students granted permission for 573-bed Manchester property

Manager and developer of student accommodation Unite Students has been granted planning permission to build a 573-bed property in Manchester city centre.

The planning consent takes the firm’s total development pipeline to be delivered in the next three years to 6,500 beds.

The development site at New Wakefield Street is close to both the University of Manchester and Manchester Metropolitan University and is an established area for students.

The property developer currently owns five properties in Manchester providing accommodation for more than 2,300 students.

This figure will increase to 2,900 once the latest scheme has been completed, which is expected to be in time for students starting university in 2020.

The total cost of the scheme is anticipated to be circa £50m.

It will be funded by internally generated sources and is predicted to achieve a yield on cost of 8%.

Richard Simpson, group property director of Unite Students, said: “Manchester has the largest student population in the UK after London with two high-quality universities, making it a strong market for Unite Students.

“We are very proud to build on our presence in such a fantastic city."

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