The £25.4m project is Create Construction’s second job for Crosslane Student Developments, having recently completed a 437-bed student block in Sheffield.
The Kingsway, Swansea, is the latest development from Crosslane’s joint venture with Harrison Street Real Estate Capital, which is developing four purpose-built student housing developments in Coventry, Leeds, Portsmouth and Swansea with a combined 1,294 beds and a total gross development value of £125m. Investec Structured Property Finance is providing debt financing for three of the development assets (Coventry, Portsmouth and Swansea).
The Swansea development, designed by architect Maith Design, is a six-storey building, rising to 14-storeys in one corner, northwest of the city centre close to Swansea’s main shopping area. It is scheduled to be completed by September 2019. Prime Student Living, the student accommodation lettings and management arm of the Crosslane Property Group, will run the building thereafter.
Create Construction managing director Adrian Tottey said: “This is our second contract for Crosslane Student Developments. It is great to carry on the success the combined team achieved at Brass Founders, Sheffield, into another exciting development. Crosslane is a key player in the student sector, which is testament to our high-quality service and delivery capability.”