Student Conversion Planned for Building in Plymouth

An unnamed building in Plymouth is being targeted for conversion to student accommodation, retrofitting energy-saving cladding in the process.

Richard Pillar, Director of Plymouth-based Pillar Land Securities, stated the city is in need of high-quality PBSA, with the core demand for this product coming by way of international students.

In 2017, Pillar Land Securities opened the £4.5m Aspire student apartment block located on Mayflower Street.

To help with energy-saving measures, Mr Pillar has been working with Norwich-based specialists Beattie Passive.

Beattie are the inventors of the patented TCosy Retrofit build system. which converts existing buildings into low-energy structures by adding new cladding and triple glazing amongst other heat-saving technologies.

Mr Pillar commented: "They can wrap a building and put in a heat recovery system, triple glazed, external envelope, It turns an existing building into a Passivhaus. It's a tea-cosy system that fits over the existing building."

Commenting on the success of the Aspire scheme, which was built from scratch, Mr Pillar said: "Aspire is already pretty much full for next year. It is hugely popular.

"We are going to do another scheme. We are seeking an opportunity to build another high-quality, boutique scheme in the city centre, if possible. We have our eye on one scheme in particular."

"We will deliver a Passivhaus-style low-carbon building. With the cost of energy going through the roof, it is important to keep the cost of energy down, and then the cost of rents down. If rents are lower you are always fully occupied. It's better for students and better for investors."

He continued: "There is still a huge demand for student accommodation. And there is a lack of high-quality student accommodation."

Arguing the benefit of freeing up HMO stock for local families, Mr Pillar commented: "What we are doing is freeing up housing for families. If I build 40 student beds it frees 10 houses back into family accommodation."