Coventry firm makes major £20 million investment

Wednesday 13th of February 2019 10:18 AM

A Coventry-based company is celebrating its 10th anniversary by announcing a major £20 million investment.

Study Inn Group, which has created and manages more than 1,800 student rooms across the UK, is to regenerate a landmark gateway building in Loughborough.

The company, which operates centres in Coventry, Nottingham, Sheffield, Cambridge and Bristol, has acquired for former JobCentre building in Lemyngton Street which it plans to redevelop to provide more than 200 high-quality serviced rooms under the Study Inn brand.

Study Inn is now in talks with Charnwood Borough Council’s Planning and Inward Investment departments with occupation targeted for the start of the 2019/20 academic year.

Study Inn started in Coventry in 2009 and built its success on the regeneration of well-located existing buildings providing high-quality, serviced, en-suite student rooms in town and city centres.

This regenerates empty buildings, creates jobs and drives up footfall which benefits the local retail and leisure economy and reduces pressure on housing in the suburbs.

It manages 850 student bedrooms in Coventry, where it has its headquarters and will be showcasing its latest developments including the work in its home city at the world’s largest commercial property development and investment show in March.

Study Inn has been members of the Coventry & Warwickshire MIPIM Partnership since it formed. The partnership is made up of around 20 private sector companies and organisations who help finance the area’s presence at the four-day event.

Co-founder Kieran Leahy said “We are proud of the work we do and the benefits it can bring to towns and cities and we are actively growing our portfolio.

 “We work very closely with local authorities and our business model offers tangible benefits in terms of regeneration, job creation, adding vibrancy to city centres and promoting graduate retention.

A year ago, Study Inn sold its ‘Portfolio 1’ of 10 sites (1,500 rooms) to international investment firm Arlington Advisors (Arlington) but continues to manage the portfolio under the Study Inn Brand and is now building ‘Portfolio 2’ with 300 rooms already trading and a further 1,000 in secured pipeline. The Group are actively seeking further acquisitions

 “We use what we have achieved in Coventry to show other local authorities just what can be done when there is a meeting of minds on policy to bring students out of private houses in the suburbs into well-managed properties which have been designed for the purpose.”

Leahy added: “We have had a great working relationship with Coventry City Council, and are always pleased and proud to help represent the city, the county and the region at MIPIM.”

Category: Announcements