HB Reavis has secured planning consent to convert an outdated office building near Waterloo station in London to a 233-room purpose-built student accommodation scheme (PBSA).
Designed by PLP Architecture, the redevelopment of 10 Leake Street will provide a mix of studios and shared cluster flats in addition to a lobby, study lounge and shared dining area, a rooftop terrace offering panoramic views across London, a wellbeing-focused fitness studio and secure cycle spaces.
Ryan Jakes, head of living and commercial at HB Reavis, said: “Securing planning approval at 10 Leake Street marks a major milestone for HB Reavis as we establish our living portfolio in the UK. We’re targeting uses with strong long-term fundamentals and we see PBSA in central London aligned with leading universities as underpinned by consistent demand, lack of supply and a clear need for high-quality student homes.
“Ten Leake Street demonstrates how we can unlock value by repurposing the best located buildings and applying our proven approach to design, delivery and ESG into new asset classes. Development of this site demonstrates our long-term commitment to invest in Waterloo and the role we will play in the future of the borough.”
Ian Spencer, director of residential services at London School of Economics and Political Science (LSE), added: “The Waterloo development will deliver high quality, professionally managed accommodation in a location that will appeal to our students. Its proximity to the LSE campus and excellent access to public transport make it very well-suited. I particularly welcome the inclusion of affordable student accommodation, which supports our commitment to widening participation and ensuring access for students from a range of socio-economic backgrounds.”
