Unite Students has been granted planning consent for a 573-bed student scheme in Manchester.
The site at New Wakefield Street is close to both the University of Manchester and Manchester Metropolitan University. It is due to complete before the start of the 2020 academic year and has a total development cost of around £50m and will provide a yield of 8%.
The student accommodation specialist now has a pipeline of 6,500 beds to be delivered over the next three years. It currently has 2,300 beds in Manchester.
Richard Simpson, group property director, said: “Manchester has the largest student population in the UK after London with two high quality universities, making it a strong market for Unite Students. We are very proud to build on our presence in such a fantastic city.”
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