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24th May 2023
Godwin Developments has completed the sale of a fully consented PBSA site in Nottingham to Bricks Group. The transaction was advised on by Irwin Mitchell and CBRE.
The planned scheme, coined Bendigo Buildings, aims to deliver contemporary student accommodation to Nottingham.
Full planning permission for the 783-bed scheme was received by Godwin Developments in the second half of 2021.
Founder and CEO of Bricks Group, Peter Prickett, commented on the acquisition: "It's great to purchase such a fantastic site in the amazing city of Nottingham. This demonstrates the Bricks Group's continued growth plans within the PBSA marketplace, with our true student brand offering the ultimate student experience and setting new standards. We'll also be looking to integrate UTime fitness and doza (doughnuts and pizza concept) as part of our ecosystem of lifestyle brands.
"It's been a pleasure working with the team at Godwin - a relationship we look forward to building upon with future collaborations together."
The development site is located in central Nottingham, within a mile of Nottingham Trent University. It will take the place of the former Royal Mail sorting office, as well as a car park on the adjacent Cowan Street.
The unit mix for the scheme will comprise studio apartments, accessible studios and a number of 4-6 bed clusters. Various indoor amenities, landscaped gardens and space for commercial units will also feature in the build.
Bendigo Buildings will also feature air source heat pumps, photovoltaic roof panels and energy-efficient building fabrics to ensure maximum sustainability.
The build has been classified "Outstanding" by Rider Levett Bucknall's Social Impact and Social Value Report, which estimates the asset will provide a significant economic boost of £264m to the city.
Managing Director at Godwin Developments, Matt Chandler, also commented: "Representing one of our largest consented schemes to date, the Bendigo Buildings utilised our in-house expertise to work up and achieve planning for this compelling scheme on a brownfield site which will bring significant regeneration benefits to the city. We are pleased that dynamic student, hotel and co-living property company Bricks Group will now take the project forward into delivering a new thriving student hub for Nottingham.
"Nottingham has significant unmet demand of student beds and with increasing student numbers expected as both universities continue their expansion plans, there is a clear requirement for more dedicated student spaces where young people can live, study and socialise together. The Bendigo Buildings helps cater to this demand whilst also supporting the Council's ambitions to keep the city centre vibrant, provide better quality student housing, and protect further traditional family housing from being converted for student occupation as well as bringing substantial investment to the city."
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