A giant block of student flats that will become Bristol’s tallest building when complete has been sold off for an undisclosed sum. The controversial scheme, near the Bearpit roundabout in the city centre, has been acquired by alternative asset manager Cain International.
Cain is working in partnership with developer Olympian Homes, which was granted planning permission by Bristol City Council in March to demolish the 1970s Premier Inn hotel and build purpose-build student accommodation (PBSA) in its place.
St James House will be 28 storeys high when finished, breaking the record set by the 26-storey Castle Park View in 2020.
The 574-bed scheme will comprise two towers – one featuring 442 beds and the other 132 larger co-living units. There will also be around 15,000 sq ft of amenity space, including a cinema room, a fitness suite, study areas, a games room, and group dining facilities. A new public park is also included in the proposals as well as a central kiosk and walkways opened up to the bus station.
The developers are hoping to complete the project by the 2028/29 academic year. RG Group has been appointed to deliver the scheme.
Oliver Cummings, managing director, head of PBSA Europe at Cain, said: “Securing an asset in such a central location with convenient transport links, positions us well to meet the strong demand while reinforcing our commitment to delivering high-quality well-amenitised PBSA developments in Russell Group university cities.”
The redevelopment plans for the site have divided opinion since being announced, with some members of the public, along with Bristol Civic Society, opposing the proposals. However, councillors on the development control A committee at Bristol City Council gave the plans the green light.
Mark Slatter, chairman of Olympian Homes, said earlier this year the development would replace “a very tired building” with “the most elegant tall building in Bristol”. He also said it would help relieve the pressure on wider family housing stock as well as providing co-living homes for key city workers, including those employed at the nearby Bristol Royal Infirmary.
“Co-living provides an accessible option for renters, costing about 25 per cent less than renting a one-bedroom flat,” he said at the time. “Our development would also transform the public space in this location.”
James Lindridge, chief operating officer and development director at Olympian Homes, said this week the company was “thankful” to the local authority for its support throughout the planning journey.
“Olympian are excited to be delivering another high-quality asset in partnership with Cain International and RG Group,” he said. “The scheme when complete, will be the tallest in Bristol, representing high-quality design and helping to resolve the undersupply of purpose built student accommodation in the city centre.”