McLaren Property is drawing up plans for a new scheme in Bath which will bring its student bed numbers up to 1,652.
John Gatley, managing director, property, at McLaren, said the company has acquired land at lower Bristol Road in Bath from a private vendor, and is preparing to submit a planning application for a 270-bed £26m student accomodation scheme.
The application will join plans for a 400-bed scheme in Oxford, due to be submitted imminently, and schemes in London and Cambridge which are under construction.
Gatley said: “We are looking at further developments and are keen to keep capitalising on the direct-let student market. As we get bigger we will seek equity partners.”
The firm’s strategy is to develop the schemes before selling them after a four-to-five-year period.
The latest proposals, which will be submitted to Bath and North East Somerset council, will serve students from the University of Bath and Bath Spa University.
joanna.bourke@estatesgazette.com
