Future Generation has revealed two significant Purpose Built Student Accommodation (PBSA) schemes alongside a £55m development facility from Maslow Capital
The ‘Luxurio in Loughborough and ‘The Vantage’ in Nottingham will create 943 student accommodation beds close to top-tier universities.
Luxurio in Loughborough will contain 458 bedrooms. Rio Architects were appointed to design the mixed-use scheme which will include landscaped grounds, communal courtyards, roof terraces and green living walls on the outside of the building.
The development at Aumberry Gap will be one of the first Purpose Built Student Accommodation (PBSA) schemes to be built in the town centre, ranging from three to seven-storeys and containing 1,702 sq m of commercial and reception space.
The Vantage in Traffic St, Nottingham, will consist of 485 bedrooms. Designed by Axis Architecture, it is arranged over 12-storeys and will be one of the city’s tallest buildings. It boasts Future Generation’s signature Sky Lounge which will make the most of incredible views over Nottingham Castle.
Tenants of both schemes will benefit from Future Generation’s partnership with Samsung, which sees Samsung digital appliances, TVs and air conditioning installed in every room.
Andrew Southern, chairman of Southern Grove and Future Generation, said: “Both these schemes will be hugely disruptive in their local markets as students come to realise that premium accommodation can be good value, and that’s a message we will deliver nationwide.
“Student accommodation in the right location remains an incredibly strong, long-term proposition and we will continue to put other providers under immense pressure by raising the bar on the level of service and quality students should expect.”
PBSA offering
The two schemes represent Future Generation’s fourth and fifth PBSA projects with construction already underway on Guilden Park in Guildford, following the completion of Hythe Mills in Colchester and Steel City in Sheffield.
Guilden Park boasts the same partners as the Loughborough and Nottingham projects, with construction being carried out by McAleer & Rushe and development funding provided by Maslow Capital.
Dominic Trainor, contracts director at McAleer & Rushe, commented: “Having commenced works on Guilden Park in Guildford late last year, we are delighted to be announced as the main design and build partner on the further PBSA developments in Nottingham and Loughborough.
“It has been a real pleasure working with Future Generation to reach this point and we thank them for entrusting us with the safe delivery of these much-needed student beds.
“The three significant contracts worth a total value of £100m reflect our expertise and experience in delivering state-of-the-art student accommodation built to the highest standards, and we look forward to working collaboratively with all the stakeholders involved.”
Ellis Sher, Co-Founder of Maslow Capital, added: “Both Luxurio and The Vantage are two fantastic examples of cutting edge PBSA design being delivered by a highly credible team.
“The demand for this type of student scheme has still not been met in a number of densely populated areas of the UK. It is for that reason we have a division dedicated to PBSA and we will continue to exploit deep knowledge of the sector to fund the right opportunities.”
