Regal gets backing for 1,000-bed Wembley student tower

Cheyne Capital has struck a deal with Regal to finance a purpose-built student accommodation scheme on High Road in Wembley, north London. The development, which has a GDV of £400m, will comprise two buildings with 998 student beds, alongside gardens, a gym, multi-use studio, lounge and dining room, study spaces and a community studio space. The scheme secured planning permission for the first building at the end of 2022, and the second at the end of 2023. Construction is expected to begin later this year, with both buildings scheduled to be ready for the start of the academic year 2027/28. Hamish Gordon, of Cheyne Real Estate, said: “The development will provide an elevated living experience to students within a short distance of London’s universities.” Marc Eden, investment director at Regal, said: “We have a shared determination to create sustainable projects where the benefits go beyond the red line and to deliver value for all our stakeholders, local communities included.” This deal marks the sixth time Cheyne Capital and Regal have partnered in the PBSA sector. Image © Regal