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More Student Flats Heading to Newcastle

Posted by Richard Ward in

Image courtesy of Flickr, Creative Commons

Despite concerns that Newcastle could become saturated with purpose-built student accommodation, work is due to begin on a 200+ bed development at the former Tyne Tees site on City Road.

The development will consist of studio apartments as is due for completion at the end of 2019. The site will come equipped with a gym, games room, cinema, and a two-storey outhouse for social events.

Commenting on the build, Jerald Solid, business development and acquisitions director at Experience Invest, said: "There is a high demand for purpose-built student rooms in Newcastle, with 64.6 percent of students unable to access university or private sector student accommodation. This large undersupply of rooms led to an impressive four percent annual climb in student rents last year.

"The city's growing international student population is a prime market for high quality, purpose-built rooms."

The student property management company, Opto Living and property developer Opto Property Group are working together on the project, which is situated within 15 minutes' walk from Newcastle and Northumbria universities.