Vita Group has secured a debt facility of more than £200m from Eldridge Real Estate Credit for the development and construction of a 1,068-unit purpose-built student accommodation (PBSA) scheme in Canary Wharf.
The 48-storey development at 30 Marsh Wall will feature 1,068 studio apartments across eight-unit types, ranging from 18 sq m to 46 sq m in size. The on-site amenity provision will include a gym, cinema, games room, co-working spaces and food and beverage options.
Construction is expected to complete in September 2028, with Tide Construction serving as both developer and contractor.
Ioannis Verdelis, chief investment officer at Vita Group, said: “With its prime location in Canary Wharf and an unmet demand for student accommodation, this project represents an exciting opportunity to introduce Vita’s exceptional living experience to a new market. Our focus on creating vibrant communities, supported by high-specification amenities and services, ensures that students thrive both academically and personally.”
John Cole, global head of real estate credit at Eldridge Capital Management, added: “Our continued partnership with Vita Group represents an important step in tackling the pressing need for purpose-built student housing, while also supporting the transformation of Canary Wharf into a vibrant residential area.
“As the UK’s largest student market, with 42% of its population coming from overseas, London faces a significant shortage of high-quality accommodation. This development will help address that gap, providing a first-class living experience in one of the world’s foremost education hubs.”
