10 November 2021
Midas celebrates completion of new sold-out student scheme
Students have moved into a new landmark accommodation complex in Southampton which was fully sold out before opening its doors for the first time.
Midas Construction, part of the Midas Group, completed the hugely popular 245-bed Stanley Studios scheme, in Portswood Road, on behalf of Glenmore Group.
Stanley Studios is perfectly situated just 800m from the University of Southampton campus and within a vibrant student area to the north of the Portswood Road district shopping centre.
Arranged across two buildings of four and six storeys, it features studio accommodation throughout and includes a range of facilities including cinema room, common room, gym and laundry.
Steve Lee, Divisional Director of Midas Construction’s Southampton-based Southern Division, said: “We are very pleased to see students moving into this fantastic new facility, delivered safely and on time despite the significant challenges of the last 18 months.
“It is a reflection of the hard work of the site team, which included achieving a gold health and safety award for their continued high standards during the project, and the excellent working relationship built with our customer and the entire project team.”
Andrew Whiteley, Partner at Maven Capital Partners, said: “We are delighted to have managed this development to completion on behalf of our clients Glenmore Property Investments. The fact that the property was fully booked by as early as June, well ahead of the start of the 2021/22 academic year, is testimony to the very high standard of product that Midas delivered. It is also a reflection of the outstanding location being less than 1 mile from the University of Southampton’s Highfield Campus and in an area where there remains a distinct undersupply of student accommodation.”
Such was the success of the Portswood Road project, Midas is currently under way with work on a further scheme for the same customer, this time in Portsmouth. This will see the construction of a 126-bed student accommodation project in Coburg Street, in the heart of the city, scheduled for completion in August 2022.
Midas has a growing reputation in the student accommodation sector, having completed 12 projects in the last five years, with a combined value of £300 million and providing more than 3,000 student bed spaces.