Unite Students, a manager and developer of student accommodation in the UK, has acquired a site in Oxford for developing an 885-bed scheme to house Oxford Brookes University students.
The company has agreed to the commercial terms with Oxford Brookes University for a 25-year nominations agreement covering the site, which will extend the partnership with Unite to 1,350 beds.
Planning approval has been obtained for a complex of blocks ranging from three to five floors.
The project, being developed at the former Cowley Barracks site, will be completed for the 2019-20 academic year.
The total development cost is expected to be around £75m.
The brick and slate tile clad scheme has been designed by architect Broadway Malyan and reflects the quadrangle design of many colleges of Oxford.
Unite Students CEO Richard Smith said: “This acquisition represents another exciting step in Unite’s strategy of building long-term partnerships with high quality universities.
“It also shows our ability to continue adding to our market-leading portfolio of buildings in locations where there is a shortage of affordable high quality student accommodation and we can exploit our service platform to drive operating efficiencies.”
Oxford Brookes University Registrar and chief operating officer Brendan Casey said: “Oxford Brookes University is pleased to be working with Unite to provide quality accommodation for students in Oxford.
“Purpose built, managed halls of residence is a preferred option for the university as it helps meet an increasing demand for student accommodation while relieving pressure on the local housing needs.
“The proposed development is near existing Oxford Brookes halls of residence and is well-connected with multiple bus routes, including the University-funded BROOKESbus.”