Unite signs £390m student beds JV with Manchester Met

The undertaking will see Unite take a 70% stake within the partnership and act as developer, asset supervisor and operator. The college will maintain the remaining 30% curiosity by contributing the land.

Development is because of begin in 2026 with phased supply in 2029 and 2030. The outdated Cambridge Halls, constructed within the Nineties, will likely be closed this 12 months to make method for the brand new scheme.

The college goals to demolish two low-rise halls of residence, at the moment housing 770 bedrooms, and exchange them with towers and blocks.

This is able to end in a complete of two,330 scholar rooms, a rise of 1,560.

The primary section, set to be accomplished by September 2029, will embrace 1,126 bedrooms in a 24-storey tower, two 11-storey buildings, and an eight-storey block, in response to developer accomplice Unite College students.

The deal marks Unite’s second college partnership because it appears to faucet into rising demand in undersupplied cities like Manchester, the place there are 3.6 full-time college students per obtainable mattress – properly above the nationwide common.

Planning is predicted to be submitted later this quarter, with the JV formation due across the finish of 2025.

Unite has additionally agreed a separate five-year nomination deal to deal with 2,550 Manchester Met college students at its different websites in the course of the redevelopment.