Ward Group Investments (WGI) is making notable strides in the Durham student accommodation sector with its recent acquisition of the Three Tuns PBSA scheme for £30 million, featuring 178 beds. In addition, the firm has purchased the long-vacant Hopper House from Durham Council, which will be transformed into a new 45-bed student residence. This strategic investment aligns with WGI’s commitment to enhancing the UK PBSA market.
Investment in Three Tuns
The acquisition of Elvet Residences Ltd has provided WGI with control over the Three Tuns PBSA scheme, a historic site at the heart of Durham. This investment has been accompanied by a £500,000 refurbishment of the grade two-listed building, originally an 18th-century coaching inn, which now includes three modern residential wings housing the student bedrooms. Since taking over the property, WGI has not only taken operational command but has also initiated substantial capital investments and restructuring to improve the overall site.
Improvements and Upgrades
Key upgrades have been made to enhance amenities, compliance standards, fire safety, and energy efficiency throughout the Three Tuns. A highlight of this initiative is the installation of a cutting-edge smart energy management system alongside air source heat pumps, which have significantly boosted energy efficiency across the premises. Consequently, most of the rooms now boast Energy Performance Certificate (EPC) ratings of A, reflecting WGI’s commitment to sustainable living environments.
Future Plans for Hopper House
WGI has also secured plans to develop the former office building, Hopper House, located on Atherton Street, into a purpose-built student accommodation facility. Having remained vacant for over a decade, this 18,000 square foot, three-storey property will house 45 studio apartments and include attractive amenities such as a residents’ gym, a cinema room, and landscaped study gardens. Additionally, it will serve as the new headquarters for WGI, signifying a long-term commitment to the city of Durham.
Project Team and Timeline
The swift completion of the Hopper House acquisition was facilitated by WGI’s asset manager, Katy Blair, who collaborated with Peter Clegg from Keystone Law. The development is set to commence construction in early summer 2026, with an ambitious target for completion ahead of the 2027 academic year. The project will be brought to fruition by WGI’s subsidiary, Viaduct Residences, with a comprehensive project team that includes Howarth Litchfield Architects, Lichfields, and various consultancy firms such as Kinetic Consultants and BDN Structural Engineers.
Community Impact and Strategic Vision
The planned renovations will not only enhance the building’s exterior but also improve the public realm around the site. Financial contributions secured through the planning process will facilitate the enhancement of pedestrian routes in the surrounding neighbourhood, thus fostering a more vibrant community atmosphere. WGI’s chief executive, Andrew Ward, remarked on the acquisition of Elvet Residences, stating, “This acquisition strengthens our position in the purpose-built student accommodation sector with a landmark £30 million asset in one of the UK’s most established student markets.” His emphasis on investing in high-quality, well-located student accommodation reflects WGI’s strategic vision to unlock the full potential of each site.
Commitment to Quality and Sustainability
Ward further commented on the £500,000 investment made at The Three Tuns, highlighting WGI’s proactive approach to asset management and its aim of creating value through improved living experiences for residents. He underscored the importance of future-proofing their schemes by adhering to best-in-class safety, compliance, and energy efficiency standards, which are increasingly crucial in today’s competitive PBSA market.
Charles Ward, the development director, expressed enthusiasm regarding the Hopper House project after receiving unanimous approval from the planning committee. He stated, “This is a strong endorsement of the collaborative approach we took throughout the planning process.” The project not only aims to revitalise a long-vacant building but also meets the growing demand for quality student accommodation in Durham. WGI’s commitment to delivering premium, sustainable living environments underscores their long-term investment strategy in the region, as they look forward to the successful realisation of these exciting developments.