Fusion Group and Cheyne Capital have acquired a purpose-built student accommodation (PBSA) development site in Brent Cross Town.
The £275m GDV scheme, which was designed by PRP, will deliver approximately 650 student beds, expansive study areas, a digital competitive gaming zone, a health kitchen, private dining, a yoga studio, a herb garden and relaxation pods.
Related Argent, which is delivering the £8bn Brent Cross Town development alongside Barnet Council, will lead the preparation of the planning application, which is expected to be submitted in Q4 2024.
This is Fusion and Cheyne’s second development in Brent Cross Town and will bring the value of the investment partnership’s assets in the town to circa £500m GDV.
Julian Evans, land and planning director at Fusion Group, said: “Brent Cross Town is London’s most exciting new neighbourhood, and expanding our partnerships with Cheyne and Related Argent to bring more than 1,300 student rooms to it is a privilege. As we continue our community engagement to ensure we can best contribute to the vibrancy of this neighbourhood, we’ll bring our decades of experience of developing residential assets in urban regenerations across the country to deliver another best-in-class student scheme as part of the town.”
Hamish Gordon, from Cheyne Real Estate, added: “The student housing market continues to be driven by considerable demand, with a growing need for high-quality and well-located developments across the UK and particularly in London. Our team has deep experience creating high-quality facilities for students throughout Europe, and we are excited to continue our partnership with Fusion to deliver another premium scheme to benefit both students and the wider community in Brent Cross Town.”
Oli Rifkind, Executive Director at Related Argent, said: “We are delighted to welcome Fusion and Cheyne back to Brent Cross Town. Their commitment to a second student housing scheme aligns with our programme of delivering complementary uses to the rest of the development, to help accelerate the growing population of our new park town.
“Fusion’s track record in providing great student living environments in high quality and well-managed developments fits perfectly with our aim to create a town where all can flourish. This new development will support future generations to thrive and adds to the vibrant mix at Brent Cross Town – a place where co-living, student homes, later living, rental, for-sale and affordable homes are all on offer alongside workspace for 25,000 people, catering for all ages and stages of life.”
