Unite Releases Its Year End Results
21st Feb 2018
iQ Student has revealed plans to create a brand-new block of student accommodation for graduates in Manchester's city centre.
Under the proposals, three blocks of 'co-living accommodation' will be built on Granby Row, near Piccadilly station.
The development will be dubbed Echo Street and will consist of 643 bedrooms across a mix of studios and shared apartments. The rooms will be made available for young professionals who are being out priced by the current private rental market.
iQ claims the scheme will make city centre living affordable for graduates and young professionals, with only one week's deposit required and all-inclusive rents.
The Echo Street scheme will also feature 242 bedrooms of student accommodation on the site of the existing Chandos House, which is owned and operated by iQ Student Accommodation.
Plans for the proposed development will undergo a three-week public consultation before being submitted to Manchester city council. If the plans are given the green light, developers expect to start work on the site in 2018.
Commenting on the proposed scheme, Rob Roger, chief executive of iQ Student Accommodation said: "We are pleased to be proposing this landmark scheme, a first of its kind outside London which aims to become a new solution for graduates and urban professionals who want to live in the heart of the city.
"We believe developments like Echo Street will help to retain talent and attract young professionals, further supporting the major growth that this vibrant city is experiencing.
"As the size and demand of the rental population in Manchester has grown, average rents have risen steeply, making it harder for young people who contribute so much to the city to live centrally. This development is addressing a real need."
21st Feb 2018
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