MCR grabs two University of Hull sites, plots new homes
The property group has acquired The Lawns and Ferens Hall, both located in Cottingham, East Yorkshire, and is looking to refurb the accommodation and add to the housing mix.
MCR was supported by Savills with legal representation from Deloitte.
The two sites span 39 acres and provided 970 bedrooms across seven accommodation blocks, before being shut down in 2019 as part of a university strategy to concentrate student housing on the main campus.
MCR now plans to bring the buildings back to life with a refurbishment programme, and have them back up and running in time for the new academic year next September.
It is also working with the council to bring forward a residential scheme on the site, with around 90 homes to be built at Ferens Hall and opportunities being reviewed across The Lawns.
Nick Lake, fund director at MCR Property Group, said: “The Lawns and Ferens Hall are iconic sites with a proud history.
“Our vision is to restore them to their former role as centres for student living, while also introducing a high-quality residential scheme that
will meet local housing needs.
“By working in partnership with the council, we aim to create a sustainable development that brings lasting benefit to the community and supports Hull’s growth as a university city.
“This acquisition builds on the momentum of our recent PBSA investments and demonstrates our commitment to scaling a platform with real impact nationwide.”
Poor students. I hope they won’t have the same experience as I did with MCR Property (no hot water, mould, etc. in a brand new building). Would they care more or less about fire safety since it is students?
By Romain