Work completes on Durham student accommodation development
Maven’s latest purpose-built student accommodation development, Duresme Court in Durham, has been completed and handed over in time for the 2018/19 academic year. Following a 14 month build, the collaboration between Maven, IP Investment Management (IPIM) and developer County Properties Group is welcoming its first tenants.
The £26 million development, located on the site of a former commercial laundry, has seen the creation of 274 en-suite studio apartments constructed across six townhouse blocks. Duresme Court will provide students with high-spec accommodation and excellent communal areas, including cinema lounge, games room and gym.
To date, IPIM and Maven have collaborated on eight property projects across the UK worth £230 million in gross development value, including student accommodation developments in Edinburgh, Birmingham and Bristol, as well as the Manchester’s first Hampton by Hilton hotel currently being built in the city’s Northern Quarter.
Duresme Court is located only a three-minute drive from Durham University, and is also close to the university’s business school, University College and Durham Law School. Homes for Students have been appointed by Maven and IPIM to oversee the management and letting of Duresme Court.
“We are delighted to be involved in this exciting project. This is Maven’s second prestigious development in Durham, following hot on the heels of the recently opened Hotel Indigo at Shire Hall, which underlies our commitment to the area. Duresme Court offers student accommodation of the very highest standard and the development has also been specifically designed to achieve an outstanding rating under BREEAM rules, making it one of the most sustainable student campuses across the UK.”
Ramsay Duff, Investment Director of Maven
Maven specialises in funding property projects across the hotel, student accommodation and office sectors. We look to partner with experienced developers or asset managers, and target only a small number of high-quality opportunities each year. If you have a property investment opportunity which you feel may be of interest to us contact our experienced investment here.