CityBlock sells Lancaster student scheme

Having transformed the grade two-listed Gillows building on North Road into a 96-bed halls of residence in 2019, the local firm has now decided to sell.

CityBlock has sold one of its three Lancaster student schemes to an Oxford-based investor. As of next month, the management of the development will be handed over to Homes for Students.

As part of the sale, CityBlock’s Reading development, Berkshire House, has also transferred to the new owner.

CityBlock redeveloped the former furniture factory in 2019 having already owned the building since 1998. The building is well-known among students as once being the home of Elements nightclub.

Trevor Bargh, chief executive at CityBlock, said: “Originally in 1998 we had the opportunity to purchase the historic Gillows building and convert it to retail and late-night leisure.

“Being such a local landmark, which was built in 1882, it deserved to be preserved while being brought up to the standards of the modern day. Through a lot of care and attention we then repurposed the building into student accommodation, welcoming our first students in 2019.

“We’re truly proud of what we have achieved to preserve this piece of our city’s history, but after six years, it’s now time to hand the building on to new owners.”

CityBlock operations director, Alison Bargh said the decision to sell had not been taken lightly.

“The students’ needs and their quality of life is in the forefront of our minds at all times.

“To move away from developments that we have invested many years in takes serious consideration. Knowing we have provided thousands of students with the highest quality facilities and amenities for many years gives us peace of mind that we are leaving behind a very worthwhile legacy.”