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18th Jul 2018
Adderstone Group has submitted plans to build a six-storey student accommodation block, which it is estimated will help to generate more than £4m a year for the local economy.
The property would be known as The Tower and would be situated at Uptin House in Ouseburn, Newcastle, an area which is increasingly popular with students.
Under the development the current buildings located on the site would be demolished, however the developers have stressed that current residents and existing businesses would not be interrupted for at least five years.
The scheme will consist of a student accommodation development made up of 19 shared cluster apartments and 109 studios, as well as a cafe, gym and cinema located on the ground floor. The development would be spread over two blocks, each being five storeys.
Although under the plans there are no car parking spaces, there is room for two cycle stores and a pick up and drop off point has been included, which would be useable at the start and end of each term.
A report generated by the New Economic Foundation for the National Union of Students in 2013 estimated that each student spends approximately £20,000 per annum in their local economy, including rent and university fees.
As a result, the planners suggested that the development scheme has the potential to generate £4.38m per year and therefore could contribute significantly to the local economy.
18th Jul 2018
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