Construction work has begun on a new 1,209-bed purpose-built student accommodation (PBSA) and co-living campus adjacent to the University of Warwick.
McLaren Construction has broken ground on the new PBSA project on behalf of developer and investor Topland, in a JV with McLaren Property, and forward funded by iQ Student Accommodation, one of the leading providers of private purpose-built student accommodation in the UK. Previously occupied by Barclays Bank, the site was acquired by Topland in 2013 and is set to become the largest private accommodation scheme servicing the University of Warwick upon completion.
Ground works and foundations are progressing, following the demolition of the former office campus. The development’s first phase will complete in 2025 and the second phase following in 2026.
The £160m project will include 131 co-living beds, c.6,000 sq ft of retail space and best-in-class amenities for residents including study lounges, dedicated game and TV areas, private dining rooms and a state-of-the-art gym and yoga studio. The development aims to address the significant undersupply of student accommodation in Warwick.
William Davies, director of asset management at Topland, said: “We’re excited to be working alongside our partners to bring forward this new best-in-class accommodation right by the University of Warwick. Consistent growth within the PBSA market has enabled us to move forward with the project at pace as we continue to explore alternative sectors that complement our existing pipeline of residential and hotel developments.”
Bruce Ruddle, Development Director at McLaren Property said: “It is great to see McLaren Construction making an exceptional start on this 1,209-bed PBSA project. The relationship between Contractor, iQ and Topland continues to develop very positively as we work towards the first completion date in 2025. I’d like to offer a big thank you to the professional team who have excelled through contract negotiation and design stages.”
Matt Loughlin, Chief Development Officer at iQ Student Accommodation said: “We’re delighted that things are moving on this exciting new development, just a stone’s throw from the University of Warwick’s campus. With a significant undersupply of beds in the market, we believe it will provide much needed, high-quality and conveniently located accommodation for students choosing this vibrant campus for their studies.”
The team involved in the project include Corstorphine and Wright (architects); HWA (Structural Engineer); Chord (MEP), Gleeds (QS) and Stace (PM/EA).