The University of Manchester has started its search for the contractors who will deliver their £1bn redevelopment plan.
With work on the first phase of the extensive investment project beginning next year, the university is now looking for the teams who will bring the 8 year development plan to life. First announced in 2012, the project will see the university create a range of new buildings and facilities with the aim of creating a unified campus near Manchester city centre.
The first phase of construction has already commenced and is due to be completed in 2019. This will see the building and redevelopment of a number of areas on the campus including a new Manchester Engineering Campus Development as well as new centres for the School of Law and Manchester Business School. There will also be a major refurbishment of the University Library and the creation of a bigger and better Students’ Union.
Phase two will begin in 2018 with a final completion date of 2022 currently scheduled. This will involve the construction of a Biomedical Campus and a new health centre for students and staff, whilst the Schools of Computer Science, Earth, Atmospheric and Environmental Sciences, Mathematics, and Chemistry will also be refurbished.
The university, already the largest single site university in the UK, has more than 39,000 students enrol each year, with the redevelopment and investment in the campus likely to attract and accommodate even more. With many students looking to join Europe’s largest student population, the need for quality and affordable accommodation in the area is growing. Many universities find their own residential accommodation is oversubscribed; leading students to look towards the private sector for alternatives such as student houses.
Principal International is pleased to offer this excellent boutique student house investment in Manchester. The buyer of this freehold property will benefit from a 9.3% rental return in addition to finance options (subject to status). Located just 0.3 miles from the University of Manchester, the property has achieved 100% occupancy year-on-year and is fully managed by a specialist local operator.
For further information on this excellent property and how you can become involved in this exciting student accommodation investment, please click here.