HG Living has agreed a development partnership with a private landowner for a 146-bed purpose-built student accommodation (PBSA) scheme at 31 Amelia Street in Elephant & Castle, London.
HG Living, which will oversee the delivery of the development, with HG Construction as the appointed main contractor, has secured planning amendments to the existing consent, enhancing the architectural design, strengthening regulatory compliance and unlocking additional value through additional bedrooms and an enhanced amenity offering.
Students will have the choice of a range of studio and cluster offerings with the shared on-site amenity spaces including co-working and private study areas, residents’ sky lounge, private dining, cinema/gaming areas and outdoor roof terrace.
Jamie Harris, co-managing partner at Harris Associates, which advised the landowner on the deal, said: “31 Amelia Street was always a standout opportunity, and we’re delighted to have brought together HG Living and the landowner to deliver this landmark asset. We look forward to seeing a best-in-class PBSA scheme take shape in Elephant & Castle.”
Matt King, head of investment and acquisitions at HG Living, added: “We are thrilled to have partnered with the landowner and Puma Property Finance to deliver a best-in-class student accommodation asset to the London market. This partnership is testament to all involved, navigating challenging market conditions with a solutions-focused approach to bring forward a fantastic development in one of the most desirable cities in the world for students to live and study.”
Rahul Malder, director of Puma Property Finance, said: “We are delighted to support HG Living, HG Construction and the landowner in delivering a high quality purpose-built student accommodation scheme in Elephant & Castle. The financing reflects our conviction in well-located student housing projects and the strength of the underlying demand dynamics in Central London.”
