Building Continues at Holmes Street Burnley
Construction of Burnley's first purpose built student accommodation development, Holmes Street, is making excellent progress as the modular build continues both on and off-site.
The development consists of pre-fabricated modules, being constructed off site by a specialist contractor. The manufacturer prepares the materials which are then moved to a large assembly facility and subsequently fitted out.
Holmes Street Burnley Student Accommodation Investment
The structure of the modules is formed of Structural Insulated Panels (SIP), consisting of high performance insulation sandwiched between layers of OSP board. The panels are built onto a floor cassette, with the interior of the assembled cuboid lined with fire resistant board to create a fire proof compartment, ready for decoration. Once decorated, the module is wrapped in a waterproof membrane to be transported to site.
On-site, the contractor will have the base prepared and the modules will be craned into place. The modules along the south side will be craned into place up to the roof level, before moving on to successive vertical stacks of modules. The services engineers will connect water and electrical services between modules, following behind the installation of modules. Stone masons will simultaneously be following from south to north along with eastern and western elevations.
The main contractor is engaged with the modular manufacturer to agree the programme for the install; key dates will be announced in the next month. The primary contractor will be timing arrival on-site to ensure achieve a seamless, continuous workforce on-site.
Following the developer’s most recent visit to the modular manufacturer; improvements have been planned for the 4th floor studios, which are to be announced shortly, providing existing investors with excellent value for money. The development will also benefit from communal access to the atrium on the ground floor; this has been possible through improvements to the fire safety strategy with a smoke extraction system.
Liam Ward, Director of Domicilium, the developers of the project has advised that “The Holmes Street purpose built student accommodation in Burnley remains on target for completion in Q3 2015.”
Student Property Investment 10% NET Rental Return
The studio apartments are selling fast, with 60% of the development now sold and just three units remain on the enhanced fourth floor. Holmes Street offers student accommodation investors fantastic rental returns of 10% NET, with 5% interest accrued on deposited funds. To find out more, please click here.