Student Developments Driving Out Coventry's Businesses
20th Jul 2018
The University of Surrey is to consider building additional student accommodation, which could be linked to Guildford Council's proposed £81 million investment in student housing.
The university has been building new student accommodation at its Manor Park campus since 2005 and is already constructing the second phase of around 1,100 beds, due for completion in time for the 2019-20 academic year.
Once the latest phase is built, the total number of rooms at Manor Park will stand at around 3,000, however the university has planning permission for 4,000 rooms on the site and has already stated it will examine building these additional rooms.
The 1,100 beds already under construction will cost around £80 million, slightly under the £81 million investment in student housing provisionally approved by Guildford Borough Council at its budget meeting held earlier in February.
The university has declined to confirm whether the £81 million investment discussed by the council was related to rooms at Manor Park.
However, councillors have previously recognised the demand for student housing within the borough and understood the attractiveness of a stable long-term income generating asset class.
The university is planning to increase its student numbers to 18,000 by 2022, which will likely place additional pressure on Guildford's housing market.
20th Jul 2018
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