iQ Student Accommodation has acquired Topland Vintage Group’s £160m 1,209-bed student accommodation and co-living campus next to the University of Warwick in a forward funding deal.
iQ, which is owned by Blackstone, will partner with Topland Vintage Group and McLaren Property to deliver the development in two phases. The first phase is set to be completed in 2025 and the second phase in 2026. Planning consent for the campus was approved in December 2022, and construction is due to start at the end of this year.
The development will comprise 1,078 PBSA beds, 131 co-living beds and 6,000 sq ft of retail space. It will also provide amenities including study lounges, game lounges, a TV lounge, private dining rooms, a gym and a yoga studio.
Sol Zakay, chief executive at Topland Vintage Group said: “We have owned this site since 2013 which was fully occupied by Barclays Bank. Following their departure, we recognised the opportunity to create value by obtaining planning consent for 1,209 student beds and we are delighted to bring the vision to fruition with iQ and McLaren. We are working on other student sites which will come forward in the near future.”
Bruce Ruddle, development director at McLaren Property, added: “The forward funding represents an excellent opportunity for McLaren to continue to develop relationships with iQ. This development will represent the largest privately owned PBSA scheme in the vicinity of the University Warwick.”
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