August 5, 2019 @ 12:11 by Steven Hugill
A Newcastle-based property agency has supported a fellow Tyneside firm’s £2.5 million project to gain a foothold in the city’s student accommodation market.
Walton Robinson has worked with The High Street Group of Companies on the letting of the latter’s first apartment development, known as Student 52.
Having been appointed by the seller of the former office building, Walton Robinson supported the conversion proposal, assisting during design meetings and providing vital market information, including a detailed marketing strategy.
Subsequently, Walton Robinson was appointed as lettings and management agent for the 48-studio apartment development in North Street East.
Following the £2.5 million regeneration of the property, Walton Robinson began to market the studio apartments, which were fully let within two months.
Ideally located for students of both Northumbria University and Newcastle University, the city centre apartments have been designed to maximise floor space to provide en-suite bathrooms, kitchens, bedrooms and living areas.
Richard Ponton, investment director at Walton Robinson, said: “We were very proud to support The High Street Group of Companies during the acquisition of the building and to continue our involvement through delivering a rapid lettings process and now as managing agents for the apartments.
“Newcastle’s portfolio of student accommodation has experienced a positive increase in quality and scale, supported by developments like this.
“The city is a thriving centre of academia and increasingly has accommodation to match the quality of the education students receive in Newcastle.”
Walton Robinson recently became a member of the National Student Housing Excellence Partnership, which is focused on promoting best practice in this specialist market.
The company joins a select group of landlord and property management members from other UK university cities, including Birmingham, Durham, Leeds, Liverpool, Nottingham and York, which between them house more than 15,000 students.