Plans for a Building in Plymouth to be Converted
|Created At:||21 March, 2023|
|Created By:||Hagar Samir|
A building in Plymouth has been chosen to be converted into student accommodation, saving a lot of money and energy in the process.
According to Richard Pillar, director of Plymouth-based Pillar Land Securities, Plymouth needs a high-quality PBSA, especially because of the increasing number of international students. He stated that international students actually demand more PBSAs, and he wants to help them.
The £4.5m student apartment block located on Mayflower Street was opened in 2017 by Pillar Land Securities. In addition, Mr Pillar is currently working with Norwich-based specialists Beattie Passive in order to save more energy.
In order to convert already existing buildings into low-energy structures, Beattie, the inventor of the patented TCosy Retrofit build system, added new heat-saving technologies. This will greatly help in the building of new PBSAs.
"They can wrap a building and put in a heat recovery system, triple glazed, external envelope; It turns an existing building into a Passivhaus. It's a tea-cosy system that fits over the existing building." Mr Pillar said.
He also added, when asked about the success of the Aspire scheme, “Aspire is already pretty much full for next year. It is hugely popular.” He also noted that Aspire is built from scratch.
"We are going to do another scheme. We are seeking an opportunity to build another high-quality boutique scheme in the city centre, if possible. We have our eye on one scheme in particular." He also stated.
"We will deliver a Passivhaus-style low-carbon building. With the cost of energy going through the roof, it is important to keep the cost of energy down and then the cost of rents down. If rents are lower, you are always fully occupied. It's better for students and better for investors."
"There is still a huge demand for student accommodation. And there is a lack of high-quality student accommodation." Mr Pillar proceeded to say.
He also commented on the benefit of freeing up HMO stock for local families, "What we are doing is freeing up housing for families. If I build 40 student beds it frees 10 houses back into family accommodation."