Osborne Complete on the Purchase of Winchester Development Site
The joint venture between, Student Residence Investment Limited (SRIL), and Osborne, the construction services and Property Company has completed on the purchase of their second development site.
The Joint Venture secured planning permission for 257 student bedrooms on the brownfield site, a former Hunt’s Food distribution centre at Andover Road, Winchester. The scheme has a Gross Development Value of £30million.
The build, by Osborne’s construction arm, is due to start on site early 2017 with completion in time for the 2018 academic year student intake.
Simon Perchard, (Director, SRIL) said: “We are very pleased to announce the completion of the purchase of this second site with our JV partner, Osborne. It very much fits our strategy of focusing on the UK student accommodation market.”
David Sarson, Managing Director of Development and Investment for Osborne, said: “We are delighted to be continuing our relationship with SRIL on this exciting opportunity in Winchester. We have a strong track record in the student experience market having developed successful accommodation schemes previously for several universities including Winchester and Southampton.”