Planning approved for new 928-bed student development in Leeds city centre

Unite Students, the manager and developer of student accommodation, has been granted planning approval to develop a 928-bed student accommodation scheme in Leeds.

Located on Merrion Way in the city centre, the development will be close to both the University of Leeds and Leeds Beckett University.

Once complete, Unite’s Leeds portfolio will increase to 4,376 beds.

In the last five years, Unite’s occupancy in the city has been 99% with over 1,800 beds subject to nominations agreements with Leeds universities.

The development will generate a development yield in line with the company’s target returns and will be funded from internally generated sources.

The new development is expected to be open for the 2020 academic year.

Nick Hayes, group property director at Unite Students, said: “Leeds is a strong performing market, with a diverse and growing student population.

“With two high quality Universities, we expect demand for quality, affordable student accommodation to grow and this development will help to fulfil that need.”

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