National student accommodation manager, Homes for Students, has secured an estimated £3.5 million, new 10-year contract with Knight Frank Investment Management LLP for student accommodation management services at St Leonard’s House in Lancaster.
The brand new, purpose-built, scheme will be ready for occupation for the beginning of the 2019/2020 academic year. It will have 179 student beds with on-site amenities including a gym, reception area and management suite, student common room, communal dining room and kitchen, bike storage and laundry facility.
St Leonard’s House is owned by Lancashire County Council.
Martin Corbett, Managing Director, Homes for Students, said: “We are delighted to have added St Leonard’s House to our national portfolio. Our fixed-price, long-term expenditure wrap is designed to protect investors’ interests and, combined with our expertise to market and let the accommodation and manage the property assets professionally, was particularly attractive to Knight Frank Investment Management LLP in awarding us this contract.”
Homes for Students currently has 75 schemes in its management across 29 UK towns and cities under its Homes for Students and Prestige Student Living brands.
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