Businesses excited over new student expansion

 

A digital sketch of the new accommodation. Picture: stmarksconsultation.com

Businesses in Lincoln city centre are excited over the expanding student community, as more developments for University housing have been proposed

 

The eagerness follows plans for the £150 million renovation at the St Marks shopping centre to include an accommodation block for students, and more recently the proposed plans for a three storey block on the High street.

High street stores are excited about the potential increase in shoppers

 

The two housing projects will collectively introduce over a thousand more flats, welcoming more and more students in the next couple of years.

 

Popular High street chain, White Stuff, talked about the potential consumer benefits of the increase in intake.

 

“High street shops that have student incentives and discounts will benefit massively from the increase in students because of the amount of money that will be spent there. Although, for a shop like White Stuff, we expect business to stay the same, as our market caters to adults upwards of 30 years old”.

 

Lincoln is made of up over 15 different accommodation blocks, studio flats and separate multi-bed houses spread out across the city centre, renting out to around 14,000 students.

 

However instead of being worried about the new competition, housing and lettings companies are interested in the opportunity it will bring.

 

The housing agency, Cloud Lettings, are enthusiastic about the possible collaboration.

They said “As the University continues to grow, the Council and the Uni are putting more things in

St Marks accommodation is scheduled to include 1,372 units.

place in terms of accommodation to prepare for the extra students”.

 

“These plans could be more positive than negative for our business. The accommodation blocks have to be let by someone and that someone could be us. It’s more about collaboration than competition”

 

The plans are scheduled to start this year and will be ready by the school year 2020/2021

 

 

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