Lancaster-based student accommodation provider, CityBlock has sold the Gillows – a purpose-built student accommodation (PBSA) scheme in Lancaster. Now, an Oxford-based investment company has acquired the site and, as of this month, the management of the development will be handed over to Homes for Students.
As part of the sale, CityBlock’s Reading student accommodation development – Berkshire House – has also transferred to the new owner.
“Originally in 1998 we had the opportunity to purchase the historic Gillows building and convert it to retail and late-night leisure.
“Being such a local landmark, which was built in 1882, it deserved to be preserved while being brought up to the standards of the modern day. Through a lot of care and attention we then repurposed the building into student accommodation, welcoming our first students in 2019.
“We’re truly proud of what we have achieved to preserve this piece of our city’s history, but after six years, it’s now time to hand the building on to new owners.”
Trevor Bargh, Chief Executive, CityBlock
Having already owned the building on North Road since 1998, CityBlock redeveloped the empty building – which was one a furniture factory – in 2019, transforming the Gillows grade two-listed building into a 96-bedroom student accommodation scheme.
Sympathetic to the architectural heritage of the building, CityBlock retained features such as the iconic staircase and stained glass windows.
“The students’ needs and their quality of life is in the forefront of our minds at all times.
“To move away from developments that we have invested many years in takes serious consideration. Knowing we have provided thousands of students with the highest quality facilities and amenities for many years gives us peace of mind that we are leaving behind a very worthwhile legacy.”
Alison Bargh, Operations Director, CityBlock
CityBlock retains the ownership and management of two further purpose-built and high-end developments in Lancaster.
