Land in Stoke could be sold for student accommodation

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Land in Stoke could be sold for student accommodation

Postby dutchman » Wed Sep 13, 2017 11:01 pm

The 0.27-acre site in Clay Lane is being sold by Loveitts on September 21

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Interest in a plot of land in Stoke - which already has planning permission for student accommodation - is expected to be huge when it goes under the auctioneer’s hammer later this month.

The 0.27-acre site in Clay Lane is being sold by estate agent and auctioneers Loveitts on Thursday, September 21.

Loveitts have said they believe the lot will attract a high number of bidders as it represents an ideal investment opportunity, given continued high demand for student accommodation in Coventry.

The land, which has permission to build a 37-bed accommodation block, is one of more than 25 lots being auctioned at Loveitts’ bi-monthly auction.

Loveitts director and auction manager Sally Smith said: “This is an incredible opportunity for property investors as the land comes with approved planning permission for student accommodation - a sector which has proven to be very profitable, especially in Coventry.

“We are expecting a large crowd at this auction because it features a selection of mixed-use properties and vacant land.

“Our lots range from homes for first-time buyers to major investments opportunities for experienced as well as first-time investors.”

The Loveitts auction takes place at the Village Urban Resort Hotel in Coventry starting at 6.30pm on September 21.

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Re: Land in Stoke could be sold for student accommodation

Postby dutchman » Sat Sep 30, 2017 4:43 am

I've lived here for 44 years - now my street is turning into student central

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A Coventry resident today hit out at “speculative developers” turning an area of the city into a “student suburb”.

Fed-up Frank Johnson, from Stoke , claimed that the area was being overrun with litter as once-residential homes have been transformed into multi-bed student accommodation.

Mr Johnson, who has lived in Knight Avenue for 44 years, will soon by sandwiched by student houses.

He today called on the council for action.

Mr Johnson said: “The area where I live has been transformed and houses are being converted into multi-occupancy dwellings for students.

“There’s a lack of family homes in the city and perfectly decent homes are being rapidly converted by exploitative landlords.”

This year, two planning applications have been granted on Knight Avenue on alone. One property will see the “erection of two-storey and single storey rear extension to create two flats for house in multiple occupation”.

The second is a large scale conversion of an existing garage area, which will see the “erection of 11 cluster flats (40 bedrooms) for students”.

For Mr Johnson, the impact is felt both locally, and across the city.

He said: “It’s a great shame, there’s an increase in litter and fly tipping.

“Students are moving out and leaving things behind and the landlords are just dumping it outside the properties.

“I’ve got nothing against students, but the student population is unsustainable. University applications fell this year, the bubble is going to burst.

“Coventry City (Council) are putting all of their eggs in one basket, which is a mistake.”

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