Watkin Jones and Housing Growth Partnership (HGP) have secured a development loan from Investec Real Estate to fund the construction of a circa £120m GDV purpose-built student accommodation (PBSA) scheme in Stratford, East London.
The development, which will comprise 397 rooms and around 2,000 sq m of commercial space, is located a short walk from Stratford station.
The joint venture partners are targeting completion in time for the start of the 2026/27 academic year.
Alice Harman, originator at Investec Real Estate, said: “The investment case for UK PBSA remains highly compelling, underpinned by supportive structural and demographic trends. London in particular, with its concentration of leading higher education institutions and enduring global appeal, coupled with higher land costs and high private sector rents, continues to witness strong capital and rental growth.
“Importantly, the scheme’s environmental and social credentials align with both our own lending strategy and the demands of today’s students, whilst future proofing it from potential obsolescence. Working with existing partners who are sector leaders remains central to our growth strategy and we look forward to delivering much needed future schemes alongside Watkin Jones and the Housing Growth Partnership.”
George Dyer, group investment director at Watkin Jones, added: “We are delighted to continue our longstanding relationship with Investec Real Estate. Following the successful establishment of our joint venture with HGP, this development debt facility will enable delivery of Grove Crescent Road, Stratford in time for the 2026/27 academic year.
“Once complete, the scheme will deliver much needed high quality student accommodation, offering strong ESG credentials, into one of London’s fastest growing sub-markets.”
