Nido joins forces with JV on student living
The property manager will eventually operate 790 beds delivered across a pair of schemes in Lancaster and Leeds that are expected to open in September 2025.
Nido has partnered with a joint venture between Primus Property Group and H.I.G Realty Partners on the design and subsequent management of the two student living developments.
It was announced last month that finance provider Maslow will provide £32m towards the Lancaster flats, which will be built off Bulk Road to provide 388 studios.
Approved in November 22, the riverside project has been designed by Tim Groom Architects and is made up of two accommodation blocks.
The Leeds scheme will be backed by £36m from Maslow and introduce 402 studio apartments on Regent Street, a 15-minute walk from the city centre.
Both developments will offer a range of amenities including games and cinema rooms, common areas, yoga studios, and gyms.
Darren Gardner, chief executive at Nido, said: “The UK student accommodation market continues to be hugely undersupplied, with an acute lack of the type of professionally managed and wellbeing-oriented homes that residents demand.
“Our appointment to work on these two much needed schemes demonstrates H.I.G’s and Primus Property Group’s understanding of the importance of delivering a best in class and differentiated residential experience for students and a recognition of our expertise in helping them deliver it.”
Duncan Melville, director at Primus Property Group, added: “Early engagement with Nido in the development of the schemes will help us in integrating technology and sustainable design in a way that delivers a positive impact for students who will be living in our buildings.
“We trust Nido to create fun, inclusive, and wellbeing-oriented spaces and student communities, which is a key part of our asset management plan.”
Established in 2007, Nido has developed and managed over 20,000 student and co-living beds across the UK and Europe, with a current portfolio of 5,800 beds.
