33 Cavendish Square, London W1G 0PW
020 7563 9222
citrus.admin@citrus-group.co.uk
Student Housing
On its own and as part of our mixed-use strategy student housing in the right locations can deliver exceptional viable developments or underpin the deliverability of wider developments which in turn then can bring significant wider benefits to the project and surrounding area. At Citrus our focus is on PBSA schemes of 300 units plus which bring with them a minimum scale which is viable to build but also operationally efficient, increasingly designed to higher BREEAM standards and ESG objectives driven by investors requirements.
One such example is the redevelopment of Prince Bishops Place Shopping Centre in Durham City which is an attractive well maintained outdoor centre stitched into the historic city core but like many centres has seen a huge reduction in retail values which makes it unviable in its current form and needs to be reimagined into a mix of uses which underpin the value, putting it on a sustainable footing for the future. In Durham with a top University PBSA is this value factor with a scheme of c400 units above the existing shops not only makes sense in a central location but also brings further spend into the City and allows the development to do more in terms of a new public square, new and enhanced pedestrian connections and a hotel. The development is part retention and part new build and is aiming for BREEAM Excellent.
We continue to seek new opportunities where PBSA may play a role either on its own or as part of a mixed-use scheme.
Hotels
Hospitality leaders and investors have named London as the most attractive European city for hotel investment in the year ahead, according to the 2023 European Hotel Industry Survey by Deloitte and confidence is high in the UK hotel sector with further investment and M&A deal activity planned for the coming years.
Our active interest in hotel investment dates back to 1987 and the hotel sector broadly is one that we continue to favour with our focus traditionally within the London/M25 area.
Key is our desire to add value to all our activities and our value investment into the hotel sector has seen us bring forward a number of hospitality assets in the last few years. This includes new build hotels in West London under the Hampton by Hilton brand with Starboard Hotels, and in East London under the Ibis Styles brand where we co-invested with a construction partner.
We additionally have other assets within the hospitality sector going through the planning process and although not a core Citrus business, we are still keen to acquire and invest in projects at an early stage where we can utilise our skillsets inhouse to deliver value
London Office
33 Cavendish Square, London W1G 0PW
Head Office
Langley House, Park Road, London, N2 8EX
Solihull Office
1st Floor, 197B Station Road, Knowle, Solihull, B93 0PU
Durham Office
Suite One, 4 Saddler Street, Durham, DH1 3NP