Wates signs trio of Select Property Group contracts worth over £130m | Wates

Wates Construction has been appointed to deliver three major contracts worth over £130m on behalf of Select Property Group, a global developer, retailer and operator of investment property brands.

The contracts are for three of Select’s award-winning Vita Student schemes at landmark sites in Manchester, Newcastle and York. The schemes will complete in September 2017.

The largest contract, worth £60.2m, will see the construction of 748 Vita Student beds at one of Manchester’s biggest sites, Circle Square, at the former BBC site on Oxford Road.

The second contract, valued at £47.7m, is for Select’s first ever Vita Student Village in York and will see 659 beds constructed in 15 three and four storey buildings within a 6.3 acre site. This includes the refurbishment of a former convent building and landscaped grounds.

Wates will also construct 331 beds at Select’s second Newcastle-based Vita Student development, which will comprise the delivery of a £23.8m ten-storey development at Strawberry Place near St James’ Park.

Mark Oakes, chief commercial officer at Select Property Group said that the new trio of deals with Wates signals an important chapter for the relationship between the two businesses at a time of significant growth for Select:

“We’re pleased to announce this partnership with Wates today on three of our most high-profile developments. We are a rapidly expanding business with over 4,500 units currently in development in the North of England across our Vita Student, CitySuites and Affinity Living brands. At a significant time of growth, it’s important for us to build long-lasting strategic partnerships with industry partners that we are confident can deliver on time and budget and share our commitment to produce exceptional, quality buildings that our customers want to live in.”

Phil Harrison, Managing Director of Wates Construction Midlands and North, said:

“The buoyancy of the private residential market in the North is in part being driven by an increased appetite for premium student accommodation, a demand that Select Property Group is leading the way in addressing.

Wates’ appointment to the three VITA schemes across the North is a huge testament to our growing relationship with Select Property Group, the strength of which has been built on our comprehensive understanding of their vision to create unique residences that enhance student experience.”

Select currently has nine Vita Student residences in operation at sites in Bristol, Exeter, Liverpool, Manchester, Newcastle, Sheffield and Southampton. Five further residences are in development in Edinburgh, Glasgow, Manchester, Newcastle and York.

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