UK-based property development specialist HG Living has secured a deal with Singaporean Q Investment Partners (QIP) to forward fund a 350-bed, purpose-built student accommodation (PBSA) scheme on St James’ Boulevard in Newcastle-upon-Tyne, UK.
The project will comprise a mix of studio and cluster flats, in addition to interior amenity space such as a gym, a theatre, an outdoor courtyard, and study rooms.
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QIP CEO Peter Young said: “St James’ Boulevard, the second student scheme in the £200m build-to-core UK student housing venture between QIP and property investment group, Soilbuild, is testament to our position as a leading firm specialising in Global Residential Living.”
HG Construction will serve as the main contractor for this project.
The facility is located within Newcastle University’s 24-acre Newcastle Helix innovation zone, as well as the university’s Business School, Urban Sciences Building, and INTO Centre.
This new PBSA construction is expected to play an essential role in assisting the city in meeting expanding demands for student housing from both local and international markets.
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By GlobalDataHG Living’s director Craig McPhail said: “This partnership approach will extend across our supply chain with HG Construction as the main contractor, enabling us to offer enhanced management of the construction and development risk and deliver a seamless end-to-end service for our funding partners.”
Homes for Students will manage the property, which is scheduled to be completed in mid-2025.
