Plans for a 498-bed student accommodation village in Carlisle, Cumbria, have been submitted by Border Construction.
The Dumfries-based developer said it intends to create the £14m village across 3-acres it owns at Norfolk Street, Denton Holme.
Ian Wishart, business development manager at Border Construction, said the firm originally acquired the land for houses, but following the drop in residential values, now believes investors would be more attracted to student digs and a steady rental income.
A decision on planning by Carlisle city council is expected before the end of the year. Wishart said he hopes to have half of the beds delivered by September 2012.
joanna.bourke@estatesgazette.com
