New student property to be developed in Islington
UNITE has managed to attain planning permission for building a new student property in Islington, London, comprising circa 900 beds, a news report in the business media has very recently revealed.
The 1.4 acre, central London site earmarked for the development is located on Holloway Road and it is believed that the future 260,000 square foot scheme will help regenerate the area through the provision of community space and commercial units for local businesses on the ground floor, with competitively priced and well managed student accommodation above.
The new accomodation has a forecast total development cost of £93 million and yield on cost of 8.8% and will include a mix of shared flats, with communal living and kitchen spaces, and self-contained studios. The plans also include common areas and study rooms interspersed with the accommodation, as well as a courtyard and several terraces, all designed to enhance the student experience, providing an environment that encourages success.
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