Moorfield Group and Tiger Developments have entered into a joint venture to deliver a £60m GDV 204-bed purpose-built student accommodation (PBSA) scheme in Bristol.
Designed by Chapman Taylor, the development is being delivered on a brownfield site and includes 69 ensuite clusters and 135 self-contained studios across four blocks, ranging from six to eight storeys.
The scheme at Freestone Road, which forms part of Bristol’s Temple Quarter, will be jointly developed and managed by the JV, with Moorfield providing funding through its latest diversified value-add fund, Moorfield Real Estate Fund V (MREFV).
Host, the operational business and sister company of Tiger Developments, has been appointed to manage the scheme upon completion and Watkin Jones has been appointed as the delivery and contracting partner for the development.
Charles Ferguson-Davie, co-CEO and CIO of Moorfield, said: “MREFV has a thematic focus on living and storage real estate and PBSA remains a high conviction sector, where we can meet demand for best-in-class accommodation in the UK’s most structurally undersupplied markets. There are many challenges facing the development sector, which now also includes the new building control submission process, and we are pleased that we have been able to form a partnership with Tiger and Watkin Jones, who are both very experienced developers.”
John Nesbitt, managing director of Host, added: “This partnership with Moorfield Group will expedite the delivery of what we believe is one of the most exciting PBSA schemes planned for any UK city. Bristol’s student population is predicted to increase rapidly over the next decade, and this development is much needed, particularly in the context of the emerging and neighbouring Temple Quarter Enterprise. Students will have a safe, stylish and professionally managed place to live in the heart of one of the most popular cities in which to study in the UK.”
Gwyn Pritchard, managing director – construction at Watkin Jones, said: “This PBSA scheme at Freestone Road is a standout project, and we’re pleased to be moving into the next phase with the main contract now signed. Watkin Jones is uniquely positioned to diversify in a challenging market, bringing the expertise and capability to support our partners through evolving building safety regulations.
“Once complete, this development will deliver high-quality, thoughtfully designed student accommodation – including elevated walkways – ready for the 2027 academic year. We’re proud to be adding another landmark to Bristol’s thriving student population, adjacent to our successful Gas Lane development.”
CBRE acted as adviser to Tiger Developments on the transaction.
