Hurlington Capital has secured planning for a £150m GDV purpose-built-student accommodation (PBSA)-led scheme in Deptford, South London.
The company intends to deliver 484 student beds, 42 affordable homes and 19,000 sq ft of creative workspace on the site of the Apollo Business Centre on Surrey Canal Road. Designed by AHMM, Hurlington is targeting BREEAM Excellent and EPC A ratings for the development.
Hurlington Capital completed on the site alongside its funding partner Melrose Capital with support from Octopus Real Estate. Savills has been appointed to advise on potential joint venture structures.
Harry de Lotbiniere, managing director of Hurlington Capital, said: “Having worked so closely with the community on our plans, this will be a best-in-class scheme that reflects local need and offers positive outcomes for all partners, including the delivery of affordable homes and creative workspaces. Best-in-class PBSA is a compelling investment opportunity, particularly in London, because it is truly counter-cyclical.
“As we seek a partner that shares our vision for creating positive outcomes alongside positive returns, we’re looking forward to bringing our plans to fruition for the benefit of the existing community and those who will become a part of it.”
Jamie Feldman, CEO and founder of Hurlington Capital, added: “As the third PBSA scheme for which we’ve secured planning in less than a year, this is an important milestone as Hurlington Capital establishes itself as one of London’s leaders in alternative living classes, such as PBSA and co-living, in addition to our wider residential expertise. Over our 12 years of operation, we’ve undertaken roles in over 25 projects, ranging from site assembly and planning through to delivery, with our completed and current projects delivering a GDV of circa £1bn.
“As we progress our plans for our four existing PBSA sites, we’ll continue to make use of our specialist understanding of London’s boroughs to identify and unlock complex sites to deliver further schemes with a mix of uses that meet local needs.”
