Published 18th Oct 2023, 11:16 BST

The 80,000 sq foot site, which is in the Fulford area of York, will feature a four storey building with 275 beds and a gym yoga studio, games room, co-working areas and a cinema. Other facilities will include cycle parking and landscaped courtyards.

The development is the latest purpose-built student accommodation (PBSA) development to be delivered by Olympian Homes, which is also active in the hotel, build to rent, co-living and affordable housing sectors. The project is being delivered in partnership with funder Cain International.

A spokesman said: “The site is located within an area of archaeological importance. An open day displaying any finds will be held at the site once the archaeological works are complete.

GMI Construction Group Ltd has secured a contract with Olympian Homes for the construction of a £50m student accommodation scheme on the site of a former cinema which hosted concerts by the Beatles (Photo supplied by GMI)

“Olympian Homes’ scheme will be named Rialto House, recognising the famous cinema that once stood on the site. Opened in 1913 and demolished in 2003, the cinema played host to many famous performances, including The Beatles who performed there four times in 1963.”

The Beatles’ concerts in York – which were staged between February and November 1963 – came at a time when the band’s profile was being boosted by regular appearances on BBC radio.

In recent years, the site of the cinema became a car park for the bingo hall, which has also since closed and is included in the footprint of this scheme.

Andrew Hurcomb, GMI Construction’s Regional Director for Yorkshire, said: “We are delighted to have secured this contract with Olympian Homes, which is allowing us to continue to contribute to the creation of much needed purpose-built student accommodation in York.

"Rialto House is a great location, close to the city centre and the university campuses and will support the city in attracting students who want to study in this beautiful and historic city.”

James Lindridge, chief operating officer and development director at Olympian Homes, said “This marks the delivery phase of another scheme for Olympian Homes and aims to address the undersupply of high-quality, purpose-built student accommodation within York.

"It has been a pleasure to work with the Council, local stakeholders and GMI to deliver this scheme.

William Sharpey, Senior Construction Manager at Olympian Homes, said: “From identifying GMI as our Contracting Partner on Rialto House to getting on site it has been a positive journey, not without its challenges in a difficult economic environment for construction.

"I look forward to working with GMI on the delivery of the scheme and exploring synergy between our businesses on upcoming opportunities.”

This new development brings the number of student beds GMI is building in York to almost 600.

This work includes a 303-bed scheme in James Street on behalf of York-based S Harrison Developments, which is currently under construction.

The Beatles: Site in York which hosted concerts by 'Fab Four' to be transformed into student accommodation