Student accommodation 'driving businesses out of city centre' say estate agents

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Student accommodation 'driving businesses out of city centre' say estate agents

Postby dutchman » Sun Jul 15, 2018 3:48 pm

Estate agents and auctioneers Loveitts is urging developers to do more to get the balance right

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Claims there is too much student accommodation being built in Coventry city centre have been backed by one of Coventry’s oldest companies

Estate agents and auctioneers Loveitts believes businesses are being squeezed out and is urging developers to do more to get the balance right.

A director at the firm has called on firms developing projects in the city centre not to neglect other market sectors at a time when the emphasis seems to be focused on delivering an increasing number of student rooms .

Loveitts says the net effect is the loss of traditional office accommodation, which is driving other commercial enterprises out of the city centre.

John Pugh, a director of the firm which this year celebrates its 175th anniversary, said he accepted the need for student accommodation, given ever-increasing demand.

But Mr Pugh pointed to the prevalence of large-scale student developments which have been built or are currently under construction.

They include Gosford Gate, Millennium View, Belgrade Plaza and Bishopgate .

He said planning has also been granted for a new 266-bed student block on Harper Road almost directly facing Coventry University , acknowledging that Loveitts acted for the landowner in putting the deal together.

But he believes the loss of office space poses a problem.

He said: “Within the city centre itself though and on the periphery of the ring road significant former office space has now been lost to student accommodation, most obviously on Queens Road which previously offered local businesses and professional occupiers a range of traditional office accommodation.

“This is now an area predominantly comprising HMO student accommodation.

“Moreover, a number of buildings within the ring road itself are now being targeted as suitable for conversion to student accommodation.”

He added: “This will inevitably force existing office occupiers out of the city centre and potentially out of Coventry itself, if the city is unable to respond to the current challenge and provide suitable office accommodation for its commercial enterprises - as well as the student rooms required to meet current demand.

“Developers want properties to be student accommodation rather than offices but if office occupiers are forced out of the city centre then the other contributors to the local economy could follow.”

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Re: Student accommodation 'driving businesses out of city centre' say estate agents

Postby dutchman » Mon Apr 29, 2019 3:14 pm

Student accommodation approved on offices site

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A vacant office building in Coventry is to be demolished and turned into student accommodation.

Coventry City Council has approved plans to demolish a two-storey office block on Queens Road and erect 32 one-bed apartments for students.

A planning statement prepared by Callingham Associates, on behalf of the applicant, said the development provides “much-needed purpose-built student accommodation” and is in close proximity to Coventry University campus – just a 13 minute walk away.

It added: “There are approximately 38,000 students requiring accommodation within Coventry.

“Accommodation which is purpose-built offers students a choice and provides an alternative to living in private rented homes.

“It reduces pressures on residential homes that might otherwise be occupied by students.

“This area is particularly popular with students and many of the nearby buildings have been converted into student flats.

“Therefore this location is ideal for student accommodation.”

One block will provide seven one-bedroom studio apartments, and a second block will consist of 25 one-bedroom studio apartments.

Each apartment includes a bedroom, kitchenette, en-suite bathroom and a small dining area.

An existing car park at the back will also be reduced to six car parking spaces and 16 cycle spaces.

Delegated approval was given by the city council’s planning team on April 26.

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Re: Student accommodation 'driving businesses out of city centre' say estate agents

Postby rebbonk » Mon Apr 29, 2019 5:20 pm

Like all bubbles, this one will burst. :(
Of course it'll fit; you just need a bigger hammer.
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