Students to Face Even Higher Interest Rate Charges After RPI Increase
20th Apr 2018
Torsion has secured a series of student accommodation schemes totally nearly £17m. The latest deals are the company's first with the property investment and development company Calthorpe Estates in Birmingham, CityBlock in Reading, and a joint venture scheme between Midesh and Arkman in Coventry.
At the Birmingham site, work is expected to begin this month. The £3.1m student accommodation scheme will consist of a five storey block, which will be able to accommodate 20 studios and 30 cluster bedrooms, located in Edgbaston.
The project is due to be compete in time for the 2017-18 academic year.
In Reading the £6.8m development for CityBlock represents a major refurbishment project. Work has already begun, which when complete, will see Berkshire House turned into luxury student accommodation consisting of 134 studio bedrooms.
The development will come equipped with a gym, study rooms and an entertainment space. Part of the plans also include cladding of the external facade, which will change the look of the building into something more modern than the original.
Lastly in Coventry work has already begun on the £6.8m 117-bed student accommodation scheme, which is due to be complete in August 2017. Torsion has worked closely with Midesh and Arkman on the project to ensure that the scheme will be delivered on budget.
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