It’s been a busy week for our client, Niveda Realty; as a leading real estate asset manager and purpose-built student accommodation (PBSA) specialist, the firm has been granted planning permission for the development of a high-end student accommodation scheme in the heart of Sheffield; to be named Calico Sheffield. This represents the second of the company’s Calico branded sites after Calico Liverpool, which launched in 2019.

The latest planning consent brings Niveda’s PBSA portfolio and pipeline within the UK to GBP 160m across 1,658 beds and follows the news of the company’s growing footprint in other major UK cities, as bookings for 2021/22 open for luxury student accommodation scheme Bowline Liverpool.

Calico Sheffield is set to provide accommodation for up to 519 students, with 474 en-suite cluster units and 45 studios, with high-quality facilities and well considered surrounding landscaping. The development is located in between Hollis Croft and Broad Lane, boasting a close proximity to the University of Sheffield, Sheffield Hallam University and Sheffield City Centre.

Tim Goddard, Investment Director at Niveda Realty, comments: “Niveda Realty is excited to have gained planning permission for Calico Sheffield, and special thanks goes to our planning consultants, Zerum. We look forward to overseeing a scheme that will form a part of the fabric that makes Sheffield the lively and trailblazing student city that it is.”

He continues, “Following the success of Calico Liverpool, this is the second development within the Calico portfolio and Sheffield’s values of diversity, sustainability and creativity could not be a better match for our brand. We are always evolving and looking at how we can elevate the student experience – particularly in the current climate when students need to feel connected to friends and family – so we look forward to revealing more on the design and services of the project in due course.”

Construction begins on site in summer 2021 and the scheme is scheduled for completion in time for the 2024 academic year. Key to the vision of the project is architects Lewis and Hickey, who are behind many pioneering educational buildings across the UK and abroad, development managers C3 Alliance, and quantity surveyors and project managers TowerEight. Octanos Capital Advisory shall continue playing the role of Niveda’s debt and equity capital advisors across their PBSA portfolio.

Sheffield, the UK’s fifth largest city, has a 60,000-strong student population, offering a unique mix of city life and access to open parks, gardens and woodlands. 60% of Sheffield constitutes as green space, and high on Niveda Realty’s agenda is how this new scheme interacts with the environment and cultural landscape of the area. The location of this site offers students easy access to a number of transport links, including regular bus and tram routes, and a secure cycle store is set to provide space for up to 225 bicycles.

The city is also popular with students for its world-class art, music and sports scene and is home to many iconic venues, including FlyDSA Arena, Hillsborough Stadium and Bramall Lane Stadium to name a few, plus the largest community of artists and designers outside of London.

For more information on Niveda, please visit www.niveda.com.