Property firm grows with £500,000 student scheme

A private investment company has expanded through a takeover delivering a £500,000 city site upgrade.

Ward Group Investments has bought Elvet Residences.

The deal included the Durham City-based Three Tuns student accommodation scheme, which has since undergone a six-figure renovation.

Work included the installation of a smart energy management system and air-source heat pumps.

Andrew Ward, chief executive at Pity Me-based Ward Group Investments, said: “This acquisition strengthens our position in the purpose-built student accommodation sector with a landmark £30 million asset in one of the UK’s most established student markets. 

“Our strategy is to invest in high-quality, well-located student accommodation and unlock each site’s full potential. 

“We’re committed to enhancing the living experience for residents and future-proofing all our schemes through best-in-class safety, compliance and energy efficiency standards.”

Shane Oldridge, Ward Group Investments’ compliance manager, added: “By combining the character of a historic Durham landmark with modern, sustainable upgrades and a strengthened on-site management presence, we’re proud to deliver a scheme that sets a new benchmark for student accommodation in the city.”

Want your business, product or service to be seen regionally and nationally? Bdaily helps you get your story in front of the right audience, every day. Find out how Bdaily can help →

Join more than 55,000 subscribers by signing up to our daily bulletin each morning here.