Alantra advises Godwin Developments on the sale of the Bendigo Buildings to Bricks Group
April 2022 – Alantra, the independent global mid-market investment banking firm, has advised UK property developer Godwin Developments on the sale of the Bendigo Buildings – a consented scheme for new contemporary purpose built student accommodation (PBSA) in Nottingham – to Bricks Group.
On completion the project, which is situated in central Nottingham, will comprise 783 beds including of a mix of modern studio apartments, four, five and six-bedroom clusters and accessible studio rooms. It will also provide a range of indoor amenities and landscaped gardens as well as commercial units on the ground floor for residents and the neighbouring community.
The Bendigo Buildings PBSA development is situated less than half a mile from Nottingham Trent University. It will regenerate the land currently occupied by a former Royal Mail sorting office, which has been vacant for nearly 20 years, as well as the adjacent car park on Cowan Street.
The Bendigo Buildings have been designed with sustainability in mind including features, such as air source heat pumps, photovoltaic (PV) roof panels and an energy efficient building fabric. The scheme promotes greener ways of travel in and around the city, supporting cleaner air and reducing traffic congestion in the area. It was also rated ‘Outstanding’ by Rider Levett Bucknall’s Social Impact and Social Value Report for its social value delivery, recognising the significant economic boost of £264 million which it will deliver to the city and wider region.
The Alantra team advising Godwin Developments was led by Hoong Wey Woon, Partner and Head of Real Estate, and Richard Sanders, senior partner at Alantra’s Midlands office.
Hoong Wey Woon, Partner and Head of Real Estate at Alantra, commented, “It was a pleasure working with the Godwin Developments team on this transaction. Both Nottingham universities have significant expansion plans and the Bendigo Buildings will help to meet the considerable unmet demand for student housing in Nottingham.”
Matt Chandler, Managing Director at Godwin Developments, said: “Representing one of our largest consented schemes to date, the Bendigo Buildings utilised our in-house expertise to work up and achieve planning for this compelling scheme on a brownfield site which will bring significant regeneration benefits to the city. We are pleased that dynamic student, hotel and co-living property company Bricks Group will now take the project forward into delivering a new thriving student hub for Nottingham.”
Peter Prickett, Founder and CEO of Bricks Group, said: “It’s great to purchase such a fantastic site in the amazing city of Nottingham. This demonstrates the Bricks Group’s continued growth plans within the PBSA marketplace, with our true student brand offering the ultimate student experience and setting new standards. We’ll also be looking to integrate UTime fitness and doza (doughnuts and pizza concept) as part of our ecosystem of lifestyle brands.
It’s been a pleasure working with the team at Godwin – a relationship we look forward to building upon with future collaborations together.”
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