Successful topping out event for Trinity View, Coventry
Successful topping out event for new 614 bed purpose-built student accommodation development, Trinity View, Coventry, on track and on budget for opening September 2019.
Crosslane Student Developments (“Crosslane”), part of the Crosslane Property Group, celebrated the topping out of its latest Purpose-Built Student Accommodation (“PBSA”) development in Coventry on 29 April 2019, which will open on time and on budget for the start of the 2019/20 academic year following a tight construction timetable that began in January 2018. The new 614 bed development has an expected gross development value of approximately £55 million upon practical completion.
The ceremony was conducted by Mike Moran, Development Manager for Crosslane Student Developments and Graham Taylor, Project Manager for the RG Group, and attended by the team of agents, contractors and professional partners working on the project, as well as the Prime Student Living team – the student accommodation lettings and operational management arm of the Crosslane Property Group, who are responsible for achieving full occupancy prior to practical completion and will continue to manage the building thereafter.
The new development called ‘Trinity View’ on account of being able to see the infamous three spires of Coventry from the 10th floor rooftop terrace, is located to the south west of the city centre, at the junction of Friars’ Road and St Patrick’s Road, within the Coventry Ring Road. It is conveniently placed, less than ten minutes’ walk from the main campus of Coventry University and less than five minutes’ walk to the city’s mainline train station, which offers regular bus services for students attending Warwick University.
The development comprises six new residential blocks, each at different stepped heights of three, seven and ten storeys, rising to a 20-storey tower in the south-west corner of the site. The building is laid out in a V-shape to form a large, private outdoor landscaped courtyard, within which residents can study, collaborate, socialise and relax. Students are able to choose from one of the 135 high specification self-contained ensuite studio apartments, or from the 479 shared ensuite flats, available in clusters of between two and six bedrooms. This arrangement encourages students to live in groups, make new friends and provide cultural opportunities as part of their university experience, as well as providing rooms at more affordable rent prices. Cluster flats will share a spacious lounge, kitchen and dining area including a free to use washer/dryer, which has proved particularly popular in other properties Crosslane has developed.
High quality communal facilities will be available on the ground floor, such as a large common room including a games area, TV snug, study hub and onsite gym. Meanwhile the 10th floor will boast a sky-lounge, cinema, luxury entertaining kitchen and dining entertainment facility, along with a roof top terrace providing impressive views across the city skyline. Students will also benefit from secure cycle storage and superfast 100Mbps broadband and Wi-Fi throughout the building to provide residents with a first-class experience.
Bookings at the new development have surpassed expectations, reflecting the strong demand for high specification student accommodation in the city, which has a full-time student population of over 50,000 attending both the University of Coventry and University of Warwick. Student numbers across both universities have grown 43% over the last five years and with Coventry University being named University of the Year for Student Experience by The Times Good University Guide 2019 this is expected to continue, driving further demand for well-located, premium purpose-built student accommodation in the city which continues to outstrip supply.
Trinity View is one of five new PBSA schemes by Crosslane within the recently announced Joint Venture (“JV”) with Harrison Street Real Estate Capital LLC. In addition to Coventry, the JV also includes new PBSA developments in Leeds, Swansea, Portsmouth and Cardiff, delivering a combined total of 1,685 beds and gross development value of approximately £180 million.
Mike Moran, Development Manager, Crosslane Student Developments, said:
“We are delighted to be working with the RG Group on our Trinity View development and pleased to be on track and on budget. This development in a prime location, will satisfy some of the rapidly increasing demand for student accommodation in Coventry, freeing up homes which could be occupied by the city’s families. Whilst this is our first development in the exciting and vibrant city of Coventry, Crosslane also has planning consent for a 266-bed student accommodation scheme on Harper Road, to the South East of the city, and we continue to explore other sites in Coventry to develop purpose-built student accommodation, helping to meet the growing demand for this type of student housing to ease the imbalance in supply and demand.”
Graham Taylor, Project Manager, RG Group, said:
“We are delighted to be working with Crosslane on our first purpose-built student accommodation development we have constructed for them on what promises to be an exciting landmark building that will be a great addition to the Coventry skyline. The topping out ceremony is a key milestone in the project and we will continue to work collaboratively with Crosslane and the professional team to deliver the project, which is making excellent progress and will be completed to the highest modern construction standards on time and within budget for the start of the 2019/20 academic year.”