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Business & Economy

Adderstone Group secures approval for ‘world-class’ Newcastle student accommodation

A North East developer has vowed to bring “world-class student accommodation” to the region after securing approval to create living quarters for more than 1000 learners.

Newcastle-based Adderstone Group has agreed a deal with iQ Student Accommodation it says will pave the way for a 1390-bed self-contained ‘campus’.

The agreement follows completion of the 272-bed iQ Collingwood in 2018, with Adderstone Group revealing it has detailed planning consent for a further 1118 beds on the site, which stands near the Manors Metro station.

Bosses say the site sits directly opposite Northumbria University’s Law and Business School and has excellent transport links to Newcastle University.

They say the development will see 1980s offices replaced with four new accommodation buildings, which are expected to be delivered in phases starting in 2022. They will be owned and managed by iQ Student Accommodation.

Ian Baggett, Adderstone Group founder and chief executive, added: “A world-class university city needs world-class student accommodation.

“This significant investment represents an enormous vote of confidence in the North East’s lead city and indicates how well placed it is to bounce back from COVID-19.

“As always, my colleagues and I are proud to be doing our bit.”