Council Blames Competition for Lower Than Expected Returns
13th Feb 2020
Howard Osborne LLP has handed over Mount Pleasant Halls to St Edmund's College in Cambridge after completing the development.
Located on the corner of Mount Pleasant and Castle Street, the scheme is equipped with 199 en-suite rooms, as well as 73 studio flats.
Howard Osborne LLP represents a joint venture between the developer Howard Group and the student specialist Osborne.
The development was funded by Legal & General, with representatives at the handover presentation to Matthew Bullock, the master of the University of Cambridge college.
Commenting on the accommodation, Nicholas Bewes, CEO of Regent Street-based Howard Group, said: "The shared values and experience of Howard Osborne, combining two multi-generational family owned businesses, has enabled us to deliver a landmark student development that will give students outstanding facilities and provide a vibrant community during their time at Cambridge. Our combined ethos and the strength of our relationship has created a unique partnership, through which, we will deliver further market leading student accommodation developments like Mount Pleasant Halls in the future."
The site for the scheme was speculatively purchased from the Universities Superannuation Scheme after being identified as an opportunity in 2013, with Howard Osborne and St Edmund entering a pre-let agreement for the entire development.
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