Adderstone and iQ to Build Newcastle Campus
Image courtesy of Flickr
Adderstone Group has agreed on a deal with iQ Student Accommodation to build 1,390 student beds in a self-contained campus in Newcastle.
The deal follows the completion of the 272-bed iQ Collingwood in 2018, with Adderston Group revealing it has planning consent for a further 1,118 beds on the site near Manors Metro Station.
The site is located opposite Northumbria University's Law and Business School and has excellent transport links to Newcastle University.
The developers say it will see the 1980s offices replaced with four new accommodation buildings, which are due to be built and delivered in phases from 2022. They will be owned and managed by iQ Student Accommodation, which is backed by Blackstone.
Commenting on the deal, Ian Baggett, founder and CEO of Adderstone Group, said: "A world class university city needs world class student accommodation."
"This significant investment represents an enormous vote of confidence in the North East's lead city and indicates how well placed it is to bounce back from Covid. As always, my colleagues and I are proud to be doing our bit."
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Head of Research at StuRents
Richard leads the StuRents research team, providing proprietary, platform-driven insights to help stakeholders make better-informed decisions about the market.
