130-bed student scheme up for sale after planning approval

Sama Investments is considering selling a 130-bed student scheme in Coventry, after securing planning permission from the council.

The Shariah-compliant developer is spearheading the transformation of a former industrial site on Charterhouse Road, into a new student accommodation scheme across four and six-storey buildings.

Sama is considering selling the site, known as ‘Charter House’, with the consent and has invited interested parties to inquire about the site.

Plans for Charter House include a courtyard, gym, lounge, riverside terrace and balconies. It also has parking space for eight cars and cycle storage for 80 bikes.

The project is targeting an ‘Excellent’ rating by BREEAM with sustainability features such as heat pumps, solar thermal panels, and commercial bio-mass to power the building’s electricity and heating.

Located by the River Sherbourne, the 40,000 sq ft site is a 10-minute walk from the city center and less than half a mile to Coventry University. It is also a 10-minute drive away from the University of Warwick.

Bilal Ahmed, executive Chairman & founder at Sama Investments said: “We’re delighted to be granted planning approval for Charter House. As a brownfield site close to Coventry University, this is a fantastic opportunity to deliver a high-quality student accommodation scheme which will add real value to the city, supporting our growing educational institutions and meeting the increasing demand for student beds.

“Importantly, it will also help unlock existing family housing elsewhere in the city rather than force students to rely on HMOs and the private rented sector.

“Part of a wider transition within the area, these proposals are highly sustainable and seek to make best use of the site for the benefit of the whole community – driving local growth and creating jobs. We look forward to engaging with interested groups who can take this exciting opportunity forward at the site.”