Unite Students and Newcastle University finalise landmark joint venture

• Unite Students and Newcastle University have finalised the formation of their Castle Leazes joint venture agreement to develop 2,009 new student beds
• The Building Safety Regulator has granted approval for the construction of Castle Leazes  
• Building work is now underway and Castle Leazes is expected to open for the start of the 2028/29 academic year 

Unite Students, the UK’s largest provider of student accommodation, and Newcastle University have finalised the formation of their joint venture to develop new accommodation for 2,009 students. 

The joint venture partnership is the first of its kind in the UK, built on an innovative, new funding structure that has been co-created by the two parties. Unite Students will act as developer, asset manager and operator with a 51% ownership stake. Newcastle University will hold 49% and contribute its Castle Leazes site on a 150-year lease. 

The new development will replace the university’s former 1,250-bed Castle Leazes accommodation, which was built in the 1960s and demolished last year to make way for a modern, fit for purpose development that meets today’s students’ expectations.  

The first phase (788 beds) of the new, reimagined Castle Leazes development will be completed for the start of the 2028/29 academic year with phase two (1,221 beds) ready for 2029/30. 

The Building Safety Regulator has granted Gateway 2 approval for the construction of Castle Leazes and contractors have begun early groundwork, laying the foundations for the new building.  

The modern, energy efficient and vibrant student village will comprise small clusters of brick-clad buildings of four to nine storeys, creating a modern, townhouse environment. 

The development was described by Newcastle City Council’s planning committee as providing significant benefits to the local economy and job market. It will also help to boost the university’s income stream and ability to attract students to the city.

Designing for the future  

Key aspects of the new development include: 

Modern and sustainable design: 

• Energy-efficient buildings designed with sustainability at their core.
• A range of room types to meet diverse student requirements.
• Projected energy and carbon reduction through enhanced efficiency and on-site renewable energy generation.

Enhanced community spaces: 

Increased communal areas, including social hubs, games rooms, study spaces, and outdoor courtyards, designed to foster a sense of community. 

To support accommodation requirements during development, Newcastle University has a multi-year nominations agreement with Unite Students for 1,600 beds in the city. 

Joe Lister, Chief Executive at Unite Students, said: “We’re excited to move forward with the construction of Castle Leazes now that we’ve completed the funding and formalised the joint venture.   

“By working together, we’re able to provide high-quality, affordable and sustainable homes that will enhance the residential experience for students. The development will also help to ease the shortage of student housing in the city and free up privately rented homes for local families. 

“Purpose-built student accommodation is fundamental to the UK’s higher education sector, and this partnership demonstrates the real benefits such collaborations can deliver for students, universities and local communities.”   

Nick Collins, Chief Financial Officer, Newcastle University, said: “The redevelopment of Castle Leazes is an exciting strategic investment for the University and the formation of the joint venture with Unite represents an important milestone.   

“By developing high-quality, sustainable accommodation close to campus, we will significantly enhance the student experience and strengthen our ability to continue to attract talented students to Newcastle.    

 “In addition to providing an income stream for the University, the redevelopment will also bring wider economic benefits to the city.”  

-ENDS –  

Notes to Editors 

For Unite Students’ enquiries, please contact the press office on 0117 4506300 or email: press.office@unitestudents.com 

For Newcastle University enquiries, please contact press.office@ncl.ac.uk  

About Unite Students 

Unite Students is the UK’s largest owner, manager, and developer of purpose-built student accommodation (PBSA). 

With more than 143 properties in 22 leading university towns and cities, Unite Students is home to around 64,000 students, living predominantly in en-suite study bedrooms with rents covering bills, insurance, and 24-hour security. 

Driven by a common purpose: to provide a ‘Home for Success’ to live, work and invest, Unite Students is committed to raising standards in the student accommodation sector with the support of over 60 university partners. 

Founded in 1991 in Bristol, the Unite Group is an award-winning Real Estate Investment Trust (REIT), listed on the London Stock Exchange. For more information, visit Unite Group’s corporate website www.unitegroup.com or the Unite Students’ site www.unitestudents.com. 

About Newcastle University 

Newcastle University, UK, is a thriving international community of more than 28,000 students from over 130 countries worldwide.  

As a member of the Russell Group of research-intensive universities in the UK, Newcastle has a world-class reputation for research excellence in the fields of medicine, science and engineering, social sciences and the humanities.   

Its academics are sharply focused on responding to the major challenges facing society today. Research and teaching are world-leading in areas as diverse as health, culture, technology and the environment.