Crosslane Student Developments, part of the Crosslane Group, has successfully acquired a 1980s office in Newcastle to convert into purpose-built student accommodation, for a total development value expected to be £15.5 million. Upon practical completion of the development, scheduled for September 2016 in time for the 2016/17 academic year, St. James’ House will be operated by Prime Student Living.
Work has commenced to develop the property into a modern, 140-bed studio scheme with high quality communal facilities including a common room, gym, private kitchen and dining room for group entertaining, study room and cinema room.
Andy Whatson, Director of Crosslane Student Developments, said: “This is the third commitment by Crosslane in Newcastle following the opening of its 216 bed studio apartments within the St James Point I student accommodation development in 2014 and its 204 bed St James Point II extension completed in September 2015. Once the St James’ Street development completes in September 2016, this will bring Crosslane’s total number of beds in Newcastle to 559. Newcastle remains an attractive city for Crosslane as it is a Russell Group university city with one of the largest universities in the UK, and continues to have a shortage of purpose-built student accommodation.”