This website provides information about our exciting plans to regenerate the former Argos building on Newborough in Scarborough into high quality accommodation for students and NHS key workers.
We are working in partnership with CU Scarborough (part of the Coventry University Group), the York and Scarborough Teaching Hospitals NHS Foundation Trust that runs Scarborough Hospital, and Scarborough Borough Council to put forward plans for the scheme.
We have recently amended and improved the proposals to take into account feedback from various stakeholders and consultees.
Separately, the council is proposing plans to enhance the public realm at St Helen’s Square, which is next to our site, to further improve the town centre.
CU Scarborough Associate Pro-Vice-Chancellor Jackie Mathers explains:
“We opened CU Scarborough (part of Coventry University Group) in 2015 with a clear intent to help Scarborough in its ambitions to regenerate and create a sustainable economy.
“When we started, we had less than 30 students and now we are delighted to have around 1,000 students, 80 per cent of whom are from the local area and are filling local positions on graduation.
“We remain committed to that vision of sustainable education, and we want to further support the town by encouraging young people from outside North Yorkshire to come to Scarborough to study and play a role in the local community and economy.
“More high-quality accommodation is essential in the next phase of that development as we aim to help increase the talent pool and skills in the area – focusing on the local needs of health and policing and helping to develop the area into the UK’s cyber hub.”
Polly McMeekin, Director of Workforce and Organisational Development, York and Scarborough Teaching Hospitals NHS Foundation Trust, comments:
“The new accommodation will play a major role in helping us to recruit staff to positions that are challenging to fill, by providing high-quality purpose built accommodation in a sustainable location. The new development will also help attract medical staff from further afield and out of the Scarborough area. Approving these plans will help us to deliver the best possible healthcare to the people of Scarborough.”
The lease with CU university is for 21 years, with a 10-year break clause. This is the industry standard and in line with other similar developments and is underwritten with an extremely strong covenant. This development will help the university attract students from outside the area, and so boost the local economy in the long-term.
The council will fund the development based on an agreed minimum return on investment following a final viability test to be carried out early next year on completion of detailed design.
To meet the council’s minimum financial return the appraisal will need to demonstrate that the net annual surplus over the 10-year period will deliver a minimum 0.5% per annum average return on investment for the council after allowing for financing costs and borrowing repayments.
If the scheme is not viable then the scheme will not proceed.
The site is owned by Wrenbridge and Buccleuch Property so it’s not in the council’s gift to create a public square on the site. There are also other significant practical reasons why this is not possible. These include:
If you would like more information on the plans, please contact ben@royalpilgrim.com or call 0800 089 0362
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