Student Accommodation Research: Growth in PBSA Changing Market Fundamentals
8th Nov 2019
Residential Capital has put forward plans to build a four and five-storey scheme in Sheffield that will accommodate 140 students.
Under the plans, the existing warehouse will be demolished and replaced with brand new purpose-built student accommodation featuring a mixture of cluster flats and self-contained studios.
Documents submitted as part of the application said: "The proposed development is located close to the town centre with excellent pedestrian and transport links and will provide an exciting and vibrant new student development to complement its surroundings. Within this infill site, the last to be developed in the immediate area, the elegantly designed contemporary building will have a positive impact and will complete the redevelopment of Henry Street."
"Our proposals will create a dedicated student development that has been designed to suit modern needs. The units are designed to serve both individuals and sharers, having the advantage of providing both five to seven-bedroom clusters and individual studio apartments."
"The proposed development is less than a 15-minute walk from the University of Sheffield and is supported by other local student developments within the immediate area."
The Sheffield market has recorded significant growth in PBSA, with almost 3,000 beds added to the market this year alone. With thousands of beds in the pipeline it is likely that supply growth will continue to outstrip growth in demand.
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