Preston student bed surplus prompts another landlord into action

The owner of the 246-bed Jubilee Court wants to offer its rooms to a broader range of occupiers amid dwindling demand from university-goers in an oversupplied market.

Fylde Road Management Company wants to vary the planning consent attached to its development to allow key workers and graduates, as we as undergrads, to live in the building.

A planning statement accompanying an application submitted to Preston City Council states that the supply of student beds in the city currently outstrips demand.

“Jubilee Court has provided high quality accommodation to students since 2016 and had a very good tenancy rate but since 2019 the tenancy rate has dropped,” the statement says.

Fylde Road Management Company receives “multiple enquires each week” from non-students but currently has to turn them down due to the conditions of the planning permission.

Fellows Environmental is advising the applicant on its plans.

FYMC is not the first to request more freedom to attract occupiers. Last year, the owner of Leighton Halls, a 298-bed complex in the heart of UCLan’s campus, said an oversupply of student accommodation in the city is making it difficult to compete.

No decision has been made on this request but there is precedent for this type of tweak in Preston.

Pillars’ 425-bed Urban Hub off Moor Lane completed last year and is open to both students and key workers.

The developer applied mid-build to broaden its tenant mix to include local teachers, social workers, council workers, NHS staff, police officers, prison workers and fire officers.