A property investment company has acquired a landmark Durham student accommodation and delivered a £500,000 upgrade.
Ward Group Investments (WGI) recently took over Elvet Residences, at the site of the historic, former Three Tuns Hotel, in a deal that included improvements to the 178-room student complex.
The scheme, a blend of modern student accommodation and a Grade II-listed 18th-century coaching inn, now features enhanced amenities, fire safety systems, and energy efficiency measures.
Andrew Ward, chief executive at WGI, said: "This acquisition strengthens our position in the purpose-built student accommodation sector with a landmark £30 million asset in one of the UK's most established student markets.
"Our strategy is to invest in high-quality, well-located, purpose-built student accommodation and unlock each site's full potential.
"Our £500,000 investment at The Three Tuns demonstrates our proactive approach to asset management and value creation.
"We're committed to enhancing the living experience for residents and also future-proofing all our schemes through best-in-class safety, compliance, and energy efficiency standards."
WGI has assumed full operational control of Elvet Residences, delivering both capital investment and operational restructuring.
Upgrades include a smart energy management system, air source heat pumps, and improvements that have pushed the majority of rooms to achieve an EPC rating of A.
Shane Oldridge, compliance manager at WGI, said: "By combining the character of a historic Durham landmark with modern, sustainable upgrades and a strengthened on-site management presence, we're proud to deliver a scheme that sets a new benchmark for purpose-built student accommodation in the city.
"We're providing the best possible standard of student housing."
All staff have been trained as certified fire wardens, and student fire marshals now live on site to support safety procedures.
The property has also been approved as a Code of Practice member with Durham University and is progressing toward formal ANUK accreditation.
To support ongoing operations, a full-time, on-site management team now provides 24/7 coverage, including an in-house maintenance team with out-of-hours support.
Mr Oldridge brings experience from his previous role at Student Cribs.
The acquisition and upgrade form part of WGI's wider strategy to acquire, reposition, and actively manage purpose-built student accommodation assets across the UK.
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The company aims to create long-term value through enhanced operational performance, compliance excellence, and strong tenant demand.
WGI continues to target growth in the student housing sector, with a focus on sustainable, high-quality schemes that meet the expectations of modern students.
The company’s approach emphasises safety, sustainability, and resident well-being, aligning with trends in the purpose-built student accommodation market.
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