Mace named Developer of the Year at Property Week Student Accommodation Awards
Mace, the international consultancy, construction and development company, has won the ‘Developer of the Year’ award at the Property Week Student Accommodation Awards.
Mace was recognised for completing, refinancing, operating and exiting part of its student accommodation portfolio while achieving its net zero carbon commitment at the end of 2020, with the help of responsible offsetting.
During 2020 Mace’s student accommodation delivery vehicle, Graduation Student Living, completed 976 student accommodation units in Exeter and Oxford, despite the huge market disruption caused by the global pandemic. The schemes became part of a 1,620-unit portfolio, including a 644-unit scheme in Cardiff which completed in 2019.
Mace’s three schemes, The Depot in Exeter, the West Wing in Cardiff and West Way Square in Oxford, were set up to operate as Net Zero Carbon facilities and have received excellent reviews from students for the way operations were managed during the pandemic.
‘The Depot’ in Exeter and ‘West Way Square’ in Oxford achieved BREEAM Excellent for the sustainability credentials of the buildings.
Mace committed in January 2020 to becoming net zero carbon as an organisation, achieving the target by December 2020. Through new technology, new methods of construction and new working practices Mace reduced emissions by half and offset the rest.
As part of its net zero carbon commitment, Mace delivered highly sustainable buildings, offsetting the balance of all carbon emissions from the construction of The Depot, West Way Square and The West Wing in Cardiff.
Despite a challenging real estate market in 2020 and 2021 and while working towards its net zero carbon target, Mace refinanced and then sold two student accommodation schemes - The Depot and the West Wing - to Ares Generation in one of the year’s largest student accommodation transactions, achieving a high valuation of the assets for sale.
Kevin Cowin, Managing Director of Mace’s Develop business, said:
“I am delighted for our team to be recognised as ‘Developer of the Year’ in the student accommodation sector by Property Week. During 2020 our team completed, operated, refinanced and exited student accommodation schemes all while working towards and achieving a net zero carbon target we set ourselves as an organisation. This has been accomplished in the face of the most testing conceivable market conditions for procurement, lettings, debt and sales. Our development team has redefined the boundaries of ambition in the student accommodation sector during a global pandemic.”
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