Construction of The Glass Works in Newcastle is continuing well, as the student accommodation development moves forward on the site.
After the final units were sold last month, construction at The Glass Works has continued with excellent progress being made on site with the modular build.
Since our last update in November, the piling and much of the groundworks has now been completed, with the redevelopment of the site now very much underway. The on-site conditions have been extremely favourable, allowing for work to take place on site throughout the winter. The first two blocks are being built in timber frames, and the first of these is now progressing swiftly.
With work on site moving forward, the pre-fabricated containers which will form the three remaining blocks of The Glass Works have started their long journey to the UK from China. These are being transported on massive cargo ships to the UK where they will be assembled to create the student accommodation structure.
The marketing drive for The Glass Works will continue this month with a show suite and sample studio arriving on site. CRM Students have also started marketing the property with a live web listing and are expecting to generate great interest from students beginning university this September in for the 2015/16 academic year. Rent is currently being finalised to reflect the luxury nature of The Glass Works, with the quality of the décor, furnishings and fittings likely to attract interest from students.
Whilst The Glass Works is now sold out, Principal International is delighted to offer interested investors an alternative student property investment in the North of England.
Holmes Street Burnley is the first purpose built student accommodation to be constructed in the university town, offering 10% NET rental return and 5 years rental assurance.
For more information on Holmes Street, please click here.