A £14 million project to develop new student accommodation in Leamington town centre is set to be completed ahead of schedule.
Gee Bee Investments Ltd is building a 220-bedroom development on derelict land opposite the train station on Old Warwick Road supported by funding from Yorkshire Bank’s Coventry Financial Solutions Centre (FSC).
The five-storey 80,000 sq ft building will be home to students from the University of Warwick from September 2012 and is set to bring wealth to the south of the town, according to Gee Bee director Dr Gurmit Singh.
He said: “When completed this is going to be an iconic building at the gateway into Leamington town centre, and will be one of the first buildings you see when arriving into the town from the train station.
“The site was very much an eye-sore which had been ignored for quite some time and we see this development as having several positive strands.
“We are bringing high-quality modern accommodation for students, we have created work for local contractors such as Tompkins Construction, AT Architects, Button Consultants Ltd, Greenway & Partners Ltd, GHW Consulting Engineers Ltd and Peter Manning Design, and once our first tennants have moved in we will be helping to pump money into the area and create wealth for businesses in the town.”
The Station House development is the third student development project Gee Bee Investments has worked on with backing from Yorkshire Bank.
Dr Singh added: “We worked with Yorkshire Bank on the Chapel Cross and The George projects in the town which were both completed on time and on budget, and have been succesfully operated since.
“The bank’s support has been tremendous and we are really looking forward to the completion of the Station House project next year and welcoming the first of thousands of students.”
Brian Colquhoun, regional director at Yorkshire Bank, said the bank is delighted to be backing a scheme which will support growth in the local economy.
“The facilities that are being created are fantastic and it is expected shops and restaurants in south town will get a real boost when the students move in next year,” he said.
“The development has moved on a lot over the last nine months of works, and it is really positive to see an inconic building taking shape – particularly as this was derelict land beforehand.”