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20/06/2019
Student Accommodation Approved In Prime London Location
A new student accommodation development is set to bring over 900 new bed spaces to central London.
The 913-bed development in Middlesex Street has been granted planning permission, subject to approval from the Greater London Authority.
Developed by the Unite Group, the scheme will generate a development yield in line with the company's target returns for University Partnership schemes in London and is expected to be delivered for the start of the 2021/22 academic year. The development will be funded from net proceeds of the February 2018 placing and committed banking facilities.
The application has been supported through planning by Kings College London, with both parties working towards a long-term nomination agreement. The development reflects Unite's strategy of aligning its property portfolio to the best locations and high-ranking universities where student numbers are growing fastest.
This development adds to Unite's London pipeline, including the 678-bed forward fund development at First Way in Wembley.
(CM/MH)
The 913-bed development in Middlesex Street has been granted planning permission, subject to approval from the Greater London Authority.
Developed by the Unite Group, the scheme will generate a development yield in line with the company's target returns for University Partnership schemes in London and is expected to be delivered for the start of the 2021/22 academic year. The development will be funded from net proceeds of the February 2018 placing and committed banking facilities.
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The application has been supported through planning by Kings College London, with both parties working towards a long-term nomination agreement. The development reflects Unite's strategy of aligning its property portfolio to the best locations and high-ranking universities where student numbers are growing fastest.
This development adds to Unite's London pipeline, including the 678-bed forward fund development at First Way in Wembley.
(CM/MH)
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