Funding has been secured for GMI Construction Group to begin work on the transformation of a Chinese restaurant into student accommodation in Leeds
Until recently, the site was occupied for more than three decades by the restaurant; thought to be the first purpose-built Chinese restaurant in the UK.
Gregory Property Group secured forward funding from Curlew Alternative Asset Management and appointed Leeds-based GMI Construction Group with a £21.5m contract to demolish the restaurant and build ‘The Refinery’.
The stepped nine, 10 and 11-storey scheme, designed by AHR Architects, comprises studios and bedroom clusters with terraces and gardens.
Facilities will include shared social areas, a cinema, gym, games room, concierge and 24-hour security.
Ian Scott, head of investment management for Curlew, said: “We are delighted to provide the forward funding for The Refinery. It will provide high quality accommodation for students and will be a further excellent addition to our portfolio of student accommodation across the United Kingdom.”
Barry Gregory, chairman of Gregory Property Group, added: “We are pleased to have secured funding for an immediate start on site. The scheme’s design is impressive, delivering high quality accommodation for Leeds students in a prime location that connects student life to the vibrant city centre in a matter of minutes.
“Leeds remains a top 10 university destination in the UK and with a growing student population of around 60,000 students the city needs more homes.
“We expect to complete the development in time for occupation from the September 2020 university term.”
