Derwent Wins Approval for 417-Room Student Building in London
Derwent London Plc won planning permission for a 417-room student housing project in the capital as a shortage of accommodation prompts developers to expand.
The Tower Hamlets borough in east London approved the construction of a 19-story student building and an office block with 26,500 square feet (2,500 square meters) of space, Derwent said in an e-mailed statement today.
A rising student population is encouraging developers to add rooms in London. Unite Group Plc, the U.K.’s largest student accommodation provider, last week said it received a 66 million- pound ($106 million) loan from Barclays Plc to finance a 671-bed development near the River Thames. Blackstone Group LP, the world’s biggest private equity company, this year completed a 33-story dormitory in the City of London financial district …