Investec backs £120m Watkin Jones student project
Investec Real Estate has backed a £120m student accommodation project in east London for Watkin Jones and Lloyds-backed Housing Growth Partnership.
The 397-room Grove Crescent development in Stratford, E15, is expected to be ready for the 2026-27 academic year and was forward-sold by Watkin Jones to Housing Growth Partnership in a joint venture deal earlier this year.
The development loan takes Investec’s lending to purpose-built student accommodation projects to £1.1bn since 2011.
Investec Real Estate has backed a £120m student accommodation project in east London for Watkin Jones and Lloyds-backed Housing Growth Partnership.
The 397-room Grove Crescent development in Stratford, E15, is expected to be ready for the 2026-27 academic year and was forward-sold by Watkin Jones to Housing Growth Partnership in a joint venture deal earlier this year.
The development loan takes Investec’s lending to purpose-built student accommodation projects to £1.1bn since 2011.
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.”
New figures from JLL show deals in the UK PBSA market drove a surge in European residential investment during recent months.
The UK PBSA market provided the second quarter’s largest deal, as Mapletree Investments bought a £1bn student accommodation platform comprising 8,192 beds across the UK and Germany from Cuscaden Peak Investments.
Image © Watkin Jones
