Table of Contents
Key Highlights:
1. MRP sets off to create The Place, a 409-unit PBSA plan in Nottingham. It’s their first self-funded project.
2. The 11-story establishment’s construction commenced in February 2023. It’s supposed to be completed in the summer of 2024.
3. The Place gifts students with amenities such as a gym, private dining, study, and breakout spaces, plus a rooftop sky lounge.
4. Grosvenor, McAleer & Rushe, and Homes for Students/Prestige teamed up with MRP for the project’s realisation.
5. Its central location near the train station allows convenient access to two of Nottingham’s universities, addressing housing scarcity for students.
News in Detail:
UK’s MRP has officially introduced a brand-new, purpose-made student home scheme named The Place, nestled in Nottingham, England. Unlike past development efforts, MRP will personally finance and inaugurate this project.
The construction of the 11-storey structure hosting 409 units was initiated in February 2023 with a deadline set for the summer of 2024. It allows student boarding from the academic year 2024/2025.
A promise of comfort awaits with The Place’s 409-bed capacity distributed among studios, one-bed, and clustered room units. The amenity list grows with the inclusion of a gym, a private dining area, study and lounging spaces, and an exclusive rooftop sky lounge†.
The project’s success is boosted by partners including Grosvenor for senior debt financing, construction firm McAleer & Rushe, and student housing manager Homes for Students/Prestige Student Living, who are entrusted with the property’s operations.
The Place, sitting near Nottingham railway station, offers a prime spot at the junction of Queens Road and London Road. Its location ensures easy traveling to both the University of Nottingham and Nottingham Trent University. They are within easy commute distance.
With its new buildings, The Place will lessen the shortage of student-centric apartments in Nottingham. This change will support the vision of Nottingham City Council. They want student locales to mesh with the town center rather than the ill-suited HMO properties.
A Brief Overview:
MRP, a British developer, has started work on The Place. It is its inaugural self-financed and managed PBSA program in Nottingham, England. The project, comprising an 11-floor building with 409 units, began in February 2023. Its completion is set for the 2024 academic year. The conveniently placed development aims to reduce the shortage of student accommodation in Nottingham. Plus, it offers features like a gym, a dining hall, and a roof deck lounge. Collaborating on this initiative are Grosvenor, McAleer & Rushe, and Homes for Students/Prestige.
