Property firm steps in to manage new student flats in Lancaster

Nido has partnered with a joint venture between Primus Property Group and H.I.G Realty Partners on the design and subsequent management of the two student living developments.

It was announced last month that finance provider Maslow will provide £32m towards the Lancaster flats, which will be built off Bulk Road to provide 388 studios.

Approved in November 2022, the riverside project has been designed by Tim Groom Architects and is made up of two accommodation blocks.

Developers seal £32m finance deal for 388 new student flats in Lancaster

The Leeds scheme will be backed by £36m from Maslow and introduce 402 studio apartments on Regent Street, a 15-minute walk from the city centre.

Both developments will offer a range of amenities including games and cinema rooms, common areas, yoga studios, and gyms.

Darren Gardner, chief executive at Nido, said: “The UK student accommodation market continues to be hugely undersupplied, with an acute lack of the type of professionally managed and wellbeing-oriented homes that residents demand.

“Our appointment to work on these two much needed schemes demonstrates H.I.G’s and Primus Property Group’s understanding of the importance of delivering a best in class and differentiated residential experience for students and a recognition of our expertise in helping them deliver it.”

Duncan Melville, director at Primus Property Group, added: “Early engagement with Nido in the development of the schemes will help us in integrating technology and sustainable design in a way that delivers a positive impact for students who will be living in our buildings.

“We trust Nido to create fun, inclusive, and wellbeing-oriented spaces and student communities, which is a key part of our asset management plan.”

Since formation in 2007, Nido has grown into a clear market leader, having developed and/or managed over 12,000 beds across the UK and Europe during that period, and with a current portfolio comprising 9,000 beds (including 4,000 under development) across Denmark, Ireland, the Netherlands, Portugal, Spain and the UK.