Developer AM, construction firm BAM Utiliteitsbouw and student housing operator The Student Hotel plan to develop a residential tower in the southern Dutch city of Eindhoven.
Developer AM, construction firm BAM Utiliteitsbouw and student housing operator The Student Hotel plan to develop a residential tower in the southern Dutch city of Eindhoven.
The three parties signed a provisional agreement for the 80-metre complex, which will provide 400 student rooms under The Student Hotel brand, during the Provada property fair in Amsterdam.
The complex will provide fully furnished rooms with both private and shared kitchens, a café-restaurant on the ground floor as well as fitness and workshop areas, 24-hour security and reception services.
Construction is due to begin in 2015 with completion expected within 18 months.
The Student Hotel already has residence halls in Amsterdam and Rotterdam, and plans to open an additional complex in The Hague (307 rooms) this summer as well as an extension to The Student Hotel in Rotterdam (from 252 to 484 rooms).
Five more locations are due to open in the next two years, bringing the company’s current portfolio of 1,100 rooms to over 5,000 in the next three years. The Student Hotel markets itself as the ideal all-inclusive and affordable accommodation for students, interns, researchers, friends and family.
In an interview with PropertyEU earlier this year, Charlie MacGregor, founder of The Student Hotel, said: 'We have been receiving a lot of interest from developers and investors abroad. There is growing international demand for high-quality student accommodation. This is why we are exploring opportunities in markets such as Germany, France, Spain and Italy. We need properties of about 350 rooms and up, or 15,000 m2. We are particularly interested in existing hotel portfolios or groups with a pipeline of projects.´
´In the immediate future however we are focusing on the Netherlands where there are still a number of exciting opportunities,' he added.
