Green light for "significant" Newcastle accommodation development
A deal has been struck for a new student accommodation development in the centre of Newcastle.
The deal between Adderstone Group and iQ Student Accommodation will see a new 1,390 bed self-contained student accommodation “campus” on the site opposite Northumbria’s Law and Business School.
The development, which contains Manors Metro and Rail Station, includes four new buildings which will replace 1980s office blocks. Starting in 2022, it will be delivered in phases which will be owned and managed by iQ Student Accommodation.
iQ Student Accommodation also manages iQ Collingwood in Newcastle, as well as a a portfolio of properties across the country; while Adderstone Group continues to deliver several residential, logistics, and office developments throughout the North East alongside building a UK wide commercial investment portfolio.
Ian Baggett, founder CEO of Adderstone Group, said: “A world class university city needs word class student accommodation.
“This significant investment represents an enormous vote of confidence in the North East’s lead city and indicates how well placed it is to bounce back from COVID. As always, my colleagues and I are proud to be doing out bit.”
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