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A deal between Newcastle based Adderstone Group and iQ Student Accommodation has paved the way for the development of a 1,390-bed self-contained student accommodation “campus”.
Following completion of the 272-bed iQ Collingwood in 2018, Adderstone Group has secured detailed planning consent for a further 1,118 beds on the site which contains Manors Metro and Rail Station. The site sits directly opposite Northumbria University’s Law and Business School and has excellent transport links to Newcastle University.
The development will see outdated 1980s office buildings replaced with four new accommodation buildings, expected to be delivered in phases starting in 2022 to be owned and managed by iQ Student Accommodation.
Adderstone Group is one of the North East’s most active residential and commercial property companies. It is currently delivering a number of residential, logistics and office developments throughout the region, as well as building a UK wide commercial investment portfolio.
Ian Baggett, Founder CEO of Adderstone Group said: “A world class university city needs world class student accommodation. This significant investment represents an enormous vote of confidence in the North East’s lead city and indicates how well placed it is to bounce back from COVID. As always, my colleagues and I are proud to be doing our bit.”