Nottingham's Flying Horse Walk gets go ahead for student accommodation12th June 2012

City shopping arcade the Flying Horse Walk will soon be opening its doors to students in Nottingham, after permission has been given to convert its upper floors in to student accommodation.

The two upper floors of the shopping arcade will be developed in to 16 en-suite bedrooms as well as a communal lounge and kitchen area.

Development will begin on the flats in October 2012 and are scheduled to be completed by February 2013.

The Flying Horse Walk was acquired by London & County (Nottingham LLP) in September last year. Simon Blair of London & County said: “We are delighted that our plans to convert the upper floors of the shopping arcade have been given the go ahead. This space is perfect to be used as accommodation and its central location will be ideal for students from either of the universities.

“Without doubt, student housing has proven to be one of the most resilient investment sectors in the current economic climate. The student housing market is the fastest growing sector in the UK in terms of rental growth and the demand is still very much there in Nottingham.”

Demand for student accommodation grows every year – despite the recently increased tuition fees. Nationally the numbers are growing at ten times the rate of supply for new accommodation.

Ben Tebbutt, Director of FHP, which advises London & County said: “We have attracted a number of new retailers into Flying Horse Walk over the past six months including High & Mighty, Stick & Ribbon and George Thornton Art. The conversion of the upper parts further demonstrates the new proactive management style of the current owners who are constantly looking to make improvements to all elements of the scheme.”