On behalf of the Moorfield Real Estate Fund II (MREF II), Moorfield Group (Moorfield) has announced the completion of the acquisition of the former Printworks site on Western Way in Exeter to pave the way for a 487 bed purpose built student accommodation scheme.
The site which is situated on Western Way close to Exeter University Campus exchanged in January 2011 subject to planning and was granted full planning consent in April 2011. Work is due to start on site in January this year with completion scheduled in time for the start of the September 2013 academic year.
The Printworks site represents another major purpose built student accommodation building in a key strategic location for Moorfield’s student accommodation development arm, Domain. Moorfield is working in association with student accommodation specialists Campus Development Management (CDM) and local Exeter based developers Yelverton Properties to deliver the scheme. The team have appointed Stride Treglown Architects and awarded the build contract to Morgan Sindall Group plc. The opportunity was identified through Moorfield’s joint venture partnership with South West based Adapt Properties.
The new purpose built student accommodation scheme is in close proximity to the city centre retail and leisure amenities and offers superb connectivity. The facility will comprise of cluster and studio apartments as well as extensive communal facilities. Exeter University is now ranked as a top 10 university and is increasingly a destination of choice for international students.
Speaking on behalf of the team, Tim Mitchell from CDM said: “We are excited to take forward our plans for The Printworks and create a new hub for independent student living in the city centre. The team is working on building a superior design and specification, with the latest student preferences in mind to meet demand for affordable purpose built student homes in the city, away from the traditional family housing stock.”
Speaking on behalf of Moorfield, Marc Gilbard said: “Exeter is a great University city and we are looking forward to adding The Printworks to our Domain business. We are happy to be partnering CDM and Yelverton Properties in an area where both have extensive expertise, both in the sector and this region.”
Moorfield worked closely with the planning officers, local community and student focus groups in designing The Printworks scheme.
For further information, visit: www.exeterprintworks.co.uk