Student Roost, owned by Greystar, has purchased a 1,000-bed purpose-built student accommodation (PBSA) scheme in Manchester from Whitbread. This acquisition marks the company’s first development in the city.

Whitbread sold the Medlock Street site, previously earmarked for a 37-storey tower, to Student Roost. The site had planning consent for a 1,014-bed PBSA and a 13-storey office block. However, Student Roost’s purchase does not include the office element.

Mark Anderson, Managing Director for Property and International at Whitbread, explained the decision to sell. “Whitbread has a clear growth plan for Premier Inn in the UK. As we expand, we can think creatively about our estate and how our locations meet our guests’ needs. In places like central Manchester, we can achieve greater value for our shareholders by redeveloping a Whitbread-owned hotel into alternative uses.”

Designed by Jon Matthews Architects, the Manchester PBSA will offer 13,000 sq ft of resident amenities, including a gym, yoga studio, study areas, meeting spaces, screening rooms, lounges, and games rooms. Additionally, residents will have access to two roof terraces with views across Manchester. The scheme is expected to be operational in 2028.

In addition to the Manchester project, Student Roost has also acquired The Triangle in Selly Oak, Birmingham, from Galliard Homes and Apsley House Capital. This development will transform a former Sainsbury’s site into a six-storey building with 836 student beds.

Ashling Fox, Managing Director at Student Roost, commented on the acquisitions: “The acquisition of premises in Manchester and Birmingham marks a milestone in Student Roost’s history. Our focus on resident wellbeing and providing over 22,000 students with more than just a room will lead these developments, enabling us to provide safe spaces and remarkable experiences for students.”

Ben Mowbray, Managing Director of UK Investment at Greystar, added, “We are actively looking for acquisition and development opportunities to expand the Student Roost platform in the UK. The acquisitions in Manchester and Birmingham present an opportunity to build new assets from the ground up and implement our refreshed design guide to create the best buildings for students.”