Preston landlord seeks to navigate saturated market
The owner of Leighton Halls, a 298-bed complex in the heart of UCLan’s campus, said an oversupply of student accommodation in the city is making it difficult to compete.
In response, Leighton Halls Management Company has asked Preston City Council for permission to let rooms to key workers, as well as students, going forward.
At present, the planning consent for Leighton Halls, granted in 2004, stipulates that the building should only be let to students.
This, coupled with the delivery of more modern facilities across Preston since Leighton Halls opened in 2005, puts the scheme at a “disadvantage to the majority of the newer developments”, according to a supporting statement submitted with the application.
It is becoming “increasingly difficult to ensure the occupancy of Leighton Halls is sufficient to guarantee the ongoing viability of the development,” the statement adds.
It adds that diversifying its tenant mix would enable the landlord to “optimise the occupancy across the halls and at the same time provide much needed reasonably priced accommodation to a valuable sector of the UK economy”.
It is hoped the move would “ensure parity with other student halls in Preston”, according to the landlord.
There is precedent for this type of planning amendment in Preston.
Pillars’ 425-bed Urban Hub off Moor Lane completed last year and is open to both students and key workers.
The developer applied mid-build to broaden its tenant mix to include local teachers, social workers, council workers, NHS staff, police officers, prison workers and fire officers.
Speaking at the time, a Pillars spokesperson said opening the scheme up to key workers as well as students would help combat “ever-increasing housing demand and steadily rising housing prices in central Preston”.
Either the price they are asking is too high or they don’t offer the facilities even newly-left-home students are willing to accept, so the solution is to offer it to key workers! Great for them…
By harpisord