Aberdeen Standard Investments and the University of Lincoln have concluded a deal to build 1,372 new purposebuilt student residences that will help the University meet anticipated future demand for quality accommodation from existing and new students.
Planning permission for the new accommodation was granted by City of Lincoln Council last December and work is expected to start by Easter 2019.
It’s anticipated that the first 407 units will be completed by the start of the 2020 academic year, with the remainder being ready by the autumn term of 2021. Once completed, the properties will be managed and maintained by the University.
In a separate deal, Aberdeen Standard Investments has agreed a contract with Bowmer and Kirkland to build the student housing.
The new student housing marks the start of the first phase of Aberdeen Standard Investments’ broader £150 million regeneration of St Marks. The mixed-use scheme will deliver new retail and leisure, housing, a hotel and improved parking.
The existing St Marks Shopping Centre is open for business as usual and will remain so for the duration of the development.
David Stewart of Aberdeen Standard Investments commented: “This is a landmark moment that reflects a really collaborative partnership between the University and us. Next comes the exciting construction phase. This will also kick start the entire St Marks redevelopment project that will bring renewed vibrancy to the city of Lincoln.”
A University of Lincoln spokesperson added: “The University of Lincoln continues to attract students from across the UK and around the world, underpinned by our record for teaching quality and an outstanding student experience. The St Marks student accommodation development will deliver a further step change in the availability of high quality, University-managed student accommodation in Lincoln and is expected to be in high demand.”