A stunning new student accommodation scheme on Merrion Street in central Leeds has been sold to Q Investment Partners (QIP), a Singapore headquartered private equity real estate firm that connects residential real estate to capital markets, in a deal worth approximately £15 million. The 88 high specification studio apartments with
RED Construction London, a regional arm to the main contractor RED Construction Group, has announced its appointment to deliver five high-quality residential units within ITC Properties’ £17m redevelopment of Townsend House in the heart of London’s Victoria district. Located at 5 Greycoat Place in a prominent junction of the City
Willmott Dixon Interiors has been appointed to deliver a new biomedical research and development facility in central Oxford. The fit-out and refurbishment specialist contractor will redevelop two former retail warehouse assets on Botley Road into c.65,000 sq. ft of world-class laboratory and creative office space. Known as Inventa, the redevelopment
Aggregate Industries inspires customers to make an ECOPact with special event : 40+ senior construction stakeholders come together to learn how the latest in green concrete innovation can contribute to net zero goals As part of its ongoing commitment to leading the construction industry’s pathway to a more sustainable future,
BDC 319 : Aug 2024
A stunning new student accommodation scheme on Merrion Street in central Leeds has been sold to Q Investment Partners (QIP), a Singapore headquartered private equity real estate firm that connects residential real estate to capital markets, in a deal worth approximately £15 million. The 88 high specification studio apartments with associated amenities, are being built at 26-34 Merrion Street. Work will start this month, and the scheme will be ready for occupation in time for the start of the 2024/25 academic year. The part five, part seven and part nine storey building has been designed by Brewster Bye Architects and will be delivered by Urban Developments (York) Ltd for QIP. This latest transaction forms part of a larger student housing fund managed by QIP and backed by a consortium of institutional investors, launched this year to invest in purpose-built student accommodation (PBSA) projects. The fund currently manages a c.£150 million portfolio that consists of approximately 1,000 student bedrooms in the UK across top-tier student cities – Edinburgh, Nottingham, Sheffield and Greater London. The Merrion Street property is located in the heart of Leeds city centre, within close proximity of both the University of Leeds and Leeds Beckett University. It will be operated by Homes for Students, a leading student accommodation operator in the UK with 40,000 PBSA beds nationwide in the UK. Peter Young, CEO & Co-founder QIP said: “QIP is pleased to be transacting in another PBSA development asset, further expanding our residential living platform in the UK. It is a particularly interesting time to be buying and finding value in the specialist UK residential housing sector. Without a doubt, the current macro market influences are presenting valued opportunities in PBSA, and we are thrilled to continue to work with one of the leading institutional investors* in transacting this opportunity through one of our funds.” Nick Gould from Urban Developments (York) Ltd, said: “It’s a great site, located right between the city’s universities and key retail areas. Brewster Bye’s design meets all of the needs of modern students, and we are looking forward to delivering this much needed, purpose-built student scheme for QIP.” Mark Henderson, from Brewster Bye Architects, said: “After designing this scheme and securing planning permission for it earlier this year, it’s fantastic to see work starting on site. For a global property fund to invest in the development, at this early stage, speaks volumes about the quality of the scheme and Leeds’s student market as a whole. “All 88 studios will have en-suites and the new building will also include a lounge, gym, study rooms, a cinema room and laundry facilities for residents. Four of the studios are accessible and there are two larger premium studios. The development will also include a staffed reception area and 23 cycle spaces.” The scheme is located on the northern edge of Leeds city centre’s main shopping and leisure quarters. Victoria Gate and Trinity shopping centres, as well as the city’s main university campuses and Leeds General Infirmary, are all less than a 10-minute walk away. Singapore private equity firm swoops for major new student accommodation scheme in Leeds Building, Design & Construction Magazine | The Choice of Industry Professionals
RED Construction London, a regional arm to the main contractor RED Construction Group, has announced its appointment to deliver five high-quality residential units within ITC Properties’ £17m redevelopment of Townsend House in the heart of London’s Victoria district. Located at 5 Greycoat Place in a prominent junction of the City of Westminster, the detailed fit-out project sits within the wider 35,500 sq ft Townsend House development which serves a mix of commercial and residential purposes. Spanning 6,077 sq ft of high-spec residential space, RED Construction London is working with architects Frederick Gibberd and interior design studio, Studio Ashby, to deliver five new apartments, including three multiple bedroom duplexes. All apartments are being fitted out with high-quality features, including bespoke kitchens, coffered timber detailing and natural oak timber herringbone flooring, alongside feature staircases and tailored joinery. Benefitting from the building’s projecting bay windows, the apartments offer breathtaking views across London and are set to be completed in spring 2023. Complementing the surrounding Art Deco-inspired architecture, Townsend House has been fitted with a contemporary sandstone fascia to the façade with dark bronze spandrels, intricate metal work and scalloped details across the exterior. RED Construction London has worked with a close team of industry professionals to develop the mixed-use six-storey building, including basement space and the creation of retail units along the ground floor, and four floors of high-spec workspace, alongside the premium apartments on the top floor. David Owen, Operations Director at RED Construction London, commented: “The capital’s heritage and scale present unique construction challenges for projects nestled in its heart; but our RED Construction London team have extensive experience in delivering a broad range of projects, from considered restoration work to new builds and fit-outs. It has been a great pleasure to deliver not only the grand development of Townsend House, but now the residential units as an additional project too, testament to our team’s professionalism and quality of work.” Peter Walder, an advisor for ITC Properties, also commented: “ITC Properties’ vision for Townsend House has been successfully realised through the work of RED Construction London. The team had facilitated such strong work throughout the build process that there was no question as to who the main contractor would be to deliver the additional residential units. This, and their understanding of our needs, made RED Construction London the perfect partner for this development.” Ben Hills, Partner, Frederick Gibberd, added: “With its beautiful and bespoke finishings, the Townsend House residential project has been a great opportunity to work with an outstanding group of professionals and we are very proud of the work we have achieved within the team.” The news follows RED Construction London’s recent appointment on CIFI and Arbrook Land’s £9m commercial and retail scheme, 19 Dacre Street, situated close to St James’s Park. Specialising in development and refurbishment opportunities in the prime Central London area, Arbrook Land has instructed RED Construction London to restore and extend an existing office building comprehensively. Building, Design & Construction Magazine | The Choice of Industry Professionals
Willmott Dixon Interiors has been appointed to deliver a new biomedical research and development facility in central Oxford. The fit-out and refurbishment specialist contractor will redevelop two former retail warehouse assets on Botley Road into c.65,000 sq. ft of world-class laboratory and creative office space. Known as Inventa, the redevelopment is being delivered on behalf of a joint venture between property developer, Mission Street, and BentallGreenOak, a global real estate investment management advisor, which acquired the property in 2021. Willmott Dixon Interiors will reuse and extend the existing structure of the two warehouse buildings, adding a new internal floor and a colonnade to the north elevation. The additional floorspace will enable the creation of a new reception area and a combination of sustainable new spaces for market-leading life science companies. They include enhanced common areas and meeting rooms, new collaboration and circulation spaces, breakout areas and café provision, as well as a new cycle centre and shower facilities. The building fabric will also be substantially upgraded, including a new façade, while new mechanical and electrical services will also be installed. Externally a cycle and pedestrian route and a newly landscaped car park will create a revitalised visitor experience, with landscaping at the rear of the building doubling as an area for flood mitigation. Inventa is expected to be complete in summer 2023. Graham Shaw, managing director at Willmott Dixon Interiors, said: “Inventa will transform a redundant retail space into an exciting and dynamic science hub in one of the world’s leading research and innovation locations. We will be delivering a sustainable building with high quality facilities that will foster collaboration and meet a growing demand from life sciences companies in central Oxford.” The project team includes Owers Warwick Architects (Cambridge), Abakus Consulting, Buro Four Project Services and Hilson Moran Partnership. Building, Design & Construction Magazine | The Choice of Industry Professionals
Aggregate Industries inspires customers to make an ECOPact with special event : 40+ senior construction stakeholders come together to learn how the latest in green concrete innovation can contribute to net zero goals As part of its ongoing commitment to leading the construction industry’s pathway to a more sustainable future, this month saw Aggregate Industries’ London Concrete team hold an exclusive customer day to showcase its revolutionary green concrete range, ECOPact. Taking place on 12th October at London Concrete’s Battersea plant, the one-off event saw over 40 customers, including construction directors, project managers, quality managers and sustainability stakeholders, come together to learn more about ECOPact and its potential in contributing to sustainability strategy. During the course of the day, attendees received exclusive presentations from senior leaders within the Aggregate Industries business covering its ambitious sustainability strategy and commitment to driving green building innovation, along with dedicated focus on the carbon benefits of switching to a greener concrete. Alongside this, visitors also got a chance to tour London Concrete’s vast manufacturing plant and see first-hand how ECOPact performs in a series of live demonstrations. Colleagues from parent group, Holcim’s Research and Development lab in Lyon also attended and shared the latest key digital tools and innovation in sustainable construction. Following the event’s marked success, Aggregates Industries is planning to roll out similar events in other parts of the country in the coming months, starting with Manchester. “We are delighted that our first ECOPact customer event was such a success, with over 40 major stakeholders from throughout the London region coming along to find out more about ECOPact and the huge impact it can make in delivering on sustainable construction,” said Veronika Elfmarkova, ECOPact Product Manager. “Feedback across the board was fantastic, with many attendees stating it had inspired them as to how the specification choices they make today can support construction’s response to the climate crisis.” Sarah James, Marketing Manager for Readymix Concrete at Aggregate Industries adds: “Amid growing urgency around the climate crisis, construction continues to come under new pressure to advance environmental priorities and build greener. However, that doesn’t necessarily mean key decisionmakers will have a full grasp of the latest green building solutions available and, more importantly, how they benefit their business. “With this in mind, our ECOPact event was purposely designed to provide a tangible demonstration of our sustainable ECOPact concrete range in practice and provide an open forum for any questions or enquiries our customers may have. It was a great day had by all and we are now looking to roll it out further afield in the coming months.” Aggregate Industries’ innovative ECOPact offers a range of green concrete solutions that meets the evolving needs of its customers and clients without compromising on quality. It gives customers a range of options to reduce the CO2 emissions of their concrete supply by between 30% and 70% compared to standard (CEM I) concrete. For further information please visit ECOPact please visit https://www.aggregate.com/ecopact or email ecopact-aiuk@aggregate.com. Building, Design & Construction Magazine | The Choice of Industry Professionals
