St James Studios Development
In 2018, Atha Developments successfully completed the construction of St James Studios, a purpose-built student accommodation building consisting of 60 high-end studio apartments. This development included various amenities such as a private cinema, study lounge, and residential lounge. Remarkably, the project was finished on time and within its budget of £4,200,000.
Overall, Atha Developments’ investment in student accommodation with St James Studios has been exceptionally successful for both Atha Developments and the local area and economy.
Development Statistics
| Maintained a consistent 100% occupancy rate. |
| Attracted continuous waiting lists for tenants every year. |
| Generates an impressive annual rental income of £520,000 |
| Boasts an outstanding Return on Capital Employed (ROCE) of over 12%. |
| The property's valuation has appreciated to £6,000,000. |
| This success resulted in a substantial capital gains profit of £1,800,000. |
Other Developments
St James Studios
Location
Middlesbrough
Project Launch
2018
Project Type
Commercial redevelopment creating 60 student apartments
Dorman House
Location
Middlesbrough
Project Launch
2022
Project Type
New build PBSA creating 55 studio apartments