Godwin sells Nottingham student scheme
Godwin Developments has completed the sale of a 783-bed consented student accommodation scheme in Nottingham to Bricks Group.
The development, called the Bendigo Buildings, is understood to have a GDV in excess of £130m. It will comprise a mix of modern studio apartments, four-, five- and six-bedroom clusters and accessible studio rooms. It will also provide landscaped gardens and commercial spaces on the ground floor.
The scheme aims to regenerate land currently occupied by a former Royal Mail sorting office, which has been vacant for nearly 20 years, as well as an adjacent car park on Cowan Street. Godwin bought both sites in 2020.
Godwin Developments has completed the sale of a 783-bed consented student accommodation scheme in Nottingham to Bricks Group.
The development, called the Bendigo Buildings, is understood to have a GDV in excess of £130m. It will comprise a mix of modern studio apartments, four-, five- and six-bedroom clusters and accessible studio rooms. It will also provide landscaped gardens and commercial spaces on the ground floor.
The scheme aims to regenerate land currently occupied by a former Royal Mail sorting office, which has been vacant for nearly 20 years, as well as an adjacent car park on Cowan Street. Godwin bought both sites in 2020.
Planning permission for both plots was granted in H2 2021.
Stephen Pratt, co-founder and director of Godwin Developments, said the company will reinvest the proceeds into “a number of new opportunities throughout the development cycle across the residential, commercial and industrial segments nationwide”.
Pratt added that the developer seeks to bring more schemes to Nottingham.
Matt Chandler, managing director of Godwin Developments, said: “Nottingham has significant unmet demand for student beds, and with increasing student numbers expected as both universities continue their expansion plans, there is a clear requirement for more dedicated student spaces where young people can live, study and socialise together.
“The Bendigo Buildings scheme helps cater to this demand while also supporting the council’s ambitions to keep the city centre vibrant, provide better-quality student housing and protect further traditional family housing from being converted for student occupation, as well as bringing substantial investment to the city.”
Peter Prickett, founder and chief executive of Bricks Group, said: “This demonstrates the Bricks Group’s continued growth plans within the PBSA marketplace, with our true student brand offering the ultimate student experience and setting new standards. We will also be looking to integrate U Time Fitness and [doughnuts and pizza concept] doza as part of our ecosystem of lifestyle brands.”
Prickett added that Bricks will aim to build on its relationship with Godwin.
CBRE advised Godwin Developments on the deal.
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Photo © Godwin Developments
