A Durham family firm has launched a new student accommodation business as it completes a £1m refurbishment of a student property in the city. Ward Group Investments, established by former Workwear Express founder and owner Andrew Ward, owns a number of high-profile properties around the region.
Its portfolio includes 104-108 Grey Street and 1 Hood Street in the heart of Newcastle city centre, home to END Clothing, Clarke Mairs LLP and Rohan, as well as several commercial and residential schemes. The company has now launched a new sub-brand, Cabana Student Living, which owns, lets and manages its own purpose-built student accommodation (PBSA) properties in Durham.
£1m Refurbishment and Portfolio Expansion
The business operates over 450 student units across five locations in Durham city: Ward Court, The Printworks, Elvet Residences, St Andrews Chambers and Viaduct Residences. A £1m back-to-brick refurbishment has recently been completed at the 29-bedroom St Andrews Chambers on North Road in Durham.
Meanwhile, a £12m, 45-bed student studio development is under construction at Viaduct Residences on Atherton Street, scheduled to complete next July. The group acquired the empty office from Durham County Council earlier this year, paving the way for its conversion.
Cabana Student Living's Vision
The group says Cabana Student Living aims to set a new benchmark for student accommodation in Durham, specialising in high-quality, centrally-located properties. Its buildings are highly individual, characterful and located in prime locations throughout the city, with premium, modern rooms.
The new Cabana Student Living website launched this week and will be taking bookings for the next academic year. CEO Andrew Ward said: "We're a Durham family business that has owned and managed property in the city for over 25 years and we genuinely care about the buildings we look after and the experience we provide."
"Cabana Student Living will bring a personal approach to accommodation and service. Each of our properties has its own history and character and we want to preserve that, while ensuring students have a high standard of living, with high-quality rooms in central locations."
"What sets us apart is that we have the scale of the national operators with the service and care of a local, family-run business. We own the buildings, manage and maintain them ourselves and are here every day for our residents. When a student needs us, they can speak directly to the team responsible for their home. That level of accountability and personal service is what Cabana Student Living is all about."
Strategic Investments and Future Plans
Ward Investments Group has completed a raft of strategic investments in recent years. As well as acquiring Elvet Residences last year, it also snapped up the landmark Three Tuns development in Durham, a £30m scheme with 178 studios and apartments. It also acquired Tursdale Business Park from a guide price of offers over £10m.
