The development — which will be undertaken by Torsion Group and DR2H — will consist of 210 student cluster beds, arranged between four and nine beds per cluster, and will have amenities including a gym, cinema room as well as bicycle storage.
The project will be completed in time for the start of the 2020 academic year and has a forecast GDV in excess of £20m.
Beaufort is currently supporting Torsion’s development of a 220-bed student accommodation project in Sheffield.
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“Having reached financial close on a previous student accommodation transaction with Torsion at the beginning of this year, we are delighted to have already signed a subsequent deal for another Torsion scheme alongside its JV partner DR2H Limited — this one for students of the University of Warwick; a member of the Russell Group and a UK top-10 university,” said Mark Quigley, managing director at Beaufort Capital.
Dinesh Malhan, director at DR2H, added: “DR2H is thrilled to be venturing into this market and looking forward to the delivery of this iconic scheme in our home city.”