Plans to develop an eight-storey student accommodation scheme in Derby were approved by Derby City Council yesterday.
The site located on Agard Street, which is currently a surface level car park, was acquired by regional property development company Godwin Developments. It will house 142 studio apartments upon completion to accommodate students from the University of Derby.
The purpose-built student accommodation (PBSA) sector is now a mature and mainstream property sector which, according to Knight Frank, has reached £53bn in size – equivalent to 10% of the size of the professionally managed commercial property market.
Gurdeep Gill, associate director at Godwin Developments, said: “We are excited to develop this site which will be the perfect location for students, as it’s just a stone’s throw from the University of Derby’s law school.
“At Godwin Developments, we strive to meet the demands of students themselves, by ensuring accommodation has high-quality personal space that allows them to concentrate on their studies in a space they feel safe in – enabling them to get the most out of their university experience.”
The Agard Street site is one of the latest projects to be added to Godwin Developments’ growing portfolio, which contains a diverse range of commercial, residential and mixed-use property assets in key regional locations.