CROSSLANE STUDENT DEVELOPMENTS, part of the Crosslane Property Group, celebrated the topping out of its latest Purpose-Built Student Accommodation development in Portsmouth on 28 May 2019.
The development will open on time and on budget for the start of the 2019/20 academic year, following a tight construction timetable that began in October 2017. The new 256 bed scheme is Crosslane’s first development in Portsmouth with an expected gross development value of approximately £30 million upon practical completion.
The ceremony was conducted by the Lord Mayor of Portsmouth and the Lady Mayoress, Councillor David Fuller and Mrs Leza Tremorin, Lisa Timberlake, Senior Development Manager for Crosslane Student Developments and Neil Russell, Managing Director for the RGB Group. The event was attended by the team of agents, contractors and professional partners working on the project, as well as the Prime Student Living team – the student accommodation lettings and operational management arm of the Crosslane Property Group.
The new 19-storey development called ‘Stanhope House’ is is one of the tallest buildings in the city. Conveniently located on the corner of Stanhope Road and Commercial Road in the city centre, the property is less than a ten minute walk from the main campus of Portsmouth University, within the central shopping district, surrounded by city centre amenities and opposite Portsmouth and Southsea train station and Victoria Park.
Upon practical completion, the development will comprise of 138 studio apartments and 118 en-suite bedrooms in shared cluster-flats over 18 floors. Stanhope House will offer students communal facilities across 15 floors, each of which will offer something different, from study spaces, a library and relaxing lounges, to a Karaoke room, TV room, games room and American diner style entertaining kitchen and dining facility for private dinner parties, celebrations and socialising. Students will also benefit from secure cycle storage and superfast 100Mbps broadband and Wi-Fi throughout the building.
Lisa Timberlake, Senior Development Manager, Crosslane Student Developments, said: “We are delighted to be working with the RGB Group on our Stanhope House development. This development will satisfy some of the rapidly increasing demand for student accommodation in Portsmouth, freeing up homes which could be occupied by the city’s families. Whilst this is our first development in the exciting and vibrant city of Portsmouth, we continue to explore other sites in the area to develop purpose-built student accommodation, helping to meet the growing demand for this type of student housing to ease the imbalance in supply and demand.”
Neil Russell, Managing Director, RGB Group, said: “The topping out ceremony is a key milestone in the project and we will continue to work collaboratively with Crosslane and the professional team to deliver the project, which is making excellent progress and will be completed to the highest modern construction standards on time and within budget for the start of the 2019/20 academic year.”