Joint venture opens the door to student accommodation deal

YORK University and Evans Property Group have formed a joint venture to own and run a new college on the campus in what is believed to be one of the biggest property transactions in the city this year.
By The Newsroom
Published 18th Aug 2010, 23:59 BST
Updated 18th Aug 2010, 23:59 BST

The 589-room Goodricke College, at Heslington East, which was officially opened in April 2010 by Prince Andrew, doubles the college's accommodation capacity.

It features three accommodation blocks with communal common rooms, a laundry and offices for staff.

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Philip Ashworth, partner in charge of the York office of law firm Dickinson Dees, who advised the university on the multi-million-pound deal, said: "This is one of the most significant deals in York over the past 12 months. It enables the university to keep an interest in Goodricke College, while sharing the responsibility of ownership with one of the leading development and investment companies in the North of England."

Graham Gilbert, finance director of York University, said: "This is an important and, we believe, innovative transaction that has enabled us to liberate significant funds for the further development of our estate while allowing us to make an investment in student accommodation."

Alan Syers, portfolio director at Leeds-based Evans Property Group, added: "We expect that this innovative approach will deliver long-term benefits to both partners."

Related topics:York