A new purpose-built student accommodation (PBSA) scheme ‘The Place’, has officially opened its doors to students in Nottingham in the first project that development company MRP has directly funded and brought to market as both developer and owner.
The 409-unit development located at the junction of Queens Road and London Road, redevelops a brownfield site and supports Nottingham City Council’s strategy of integrating students into the city centre in secure, purpose-built accommodation. The development also helps to address the housing supply and demand imbalance in the city.
Centrally located next to Nottingham railway station, ‘The Place’ is within easy commuting distance of the University of Nottingham and Nottingham Trent University, making it the perfect residence for students seeking a high-end yet competitively priced living experience in a city centre location.
Managing the property on behalf of MRP is Homes for Students, under their luxury Prestige Student Living brand. The property offers a mix of ensuite and studio residences, complemented with generous amenity spaces, including a gym, private dining room, study and breakout areas, and a 360° rooftop terrace and sky lounge, offering spectacular panoramic views of the city.
The interiors, combine a modern, sophisticated and luxurious aesthetic that seamlessly blends with functionality to enhance the student experience, balancing study, relaxation, and social interaction. The building itself has been designed with sustainability and technology in mind, achieving a BREEAM ‘Excellent’ rating and a WiredScore Platinum certification.
Graham Mitchell, Development Director at MRP said:
“We are proud to have brought forward this exceptional development providing high quality, yet competitively priced accommodation for Nottingham’s vibrant student community. The Place offers safe and stylish student residences in a prime, convenient location, bringing with it the vibrancy of city centre living. It has been very well received by our new student residents, particularly the design, amenities and Sky Lounge.
“Applying our sector leading expertise and working closely with our partners, our team were able to unlock the potential of this prime underutilised site and have exceeded our business underwrite despite a challenging sector backdrop this year. We look forward to delivering more market leading developments like this across the UK and have schemes coming forward in Glasgow, Bristol and Belfast in the near future.”
Integral to the delivery of the scheme was Grosvenor who provided the lending for the project having recently expanded its residential debt platform.
India Flowers, General Manager of ‘The Place’ for Prestige Student Living, comments on the students’ first experiences since moving in:
“It has been thrilling to welcome students to their new homes as they embark on this pivotal chapter in their lives. The high-quality design and workmanship is clear to see, and the immediate feedback from the students settling in has been fantastic; they ‘cannot believe this is student accommodation’ and their parents want to stay here too! We can’t wait to build on this and create a safe, luxury living experience within a thriving community in ‘The Place’ they call home. This, I am confident we’ll be able to establish here, making it truly ‘The Place’ to be in Nottingham.”
As construction partner on the project, Mark Diamond, Senior Director at McAleer & Rushe said:
“I’d like to commend the skillset of our team, working closely with our colleagues at MRP, along with Grosvenor, to deliver this exceptional new building. The workmanship is of the highest quality, and it is a testament to their expertise and diligence that the project was delivered in time for the academic term, significantly enhancing the university experience of many students.”
To find out more about The Place visit the website here.
MRP is also working with Nottingham City Council on a further building for this highly accessible city centre location, which will deliver more residential homes to the city and publicly accessible ground floor co-working spaces. Currently in the planning stage, the building is envisioned to deliver a broad mix of build to rent and shared living accommodation, totalling 382 units. It is designed to act as a natural progression for graduating students and a wide range of other prospective residents, helping to meaningfully address Nottingham’s housing needs effectively.,
