Hackney BTR scheme approved
A mixed-use scheme that will deliver 143 build-to-rent homes in Hackney Wick, north London has been greenlit at a recent planning committee meeting …
Redfern shops and units to make way for student housing – Sydney
Listed Singaporean developer Wee Hur has acquired a row of neighbouring shops and residential units in Sydney’s Redfern for $46 million with plans to develop a large student accommodation facility.
The 1287-square metre site, which runs from 90 to 102 Regent Street has been acquired by Wee Hur’s $1 billion Australian student accommodation master trust, which aims to deliver 5000 student beds by 2022.
The site has been acquired in two transactions …
Ivanhoé Cambridge, Bouwinvest and Greystar Launch Paris Student and Young Professionals Accommodation Venture with €1 Billion Investment Capacity
Global real estate institutional investment companies Ivanhoé Cambridge Holdings UK Ltd (“Ivanhoé Cambridge”) and Bouwinvest Real Estate Investors (“Bouwinvest”) alongside Greystar Real Estate Partners LLC (“Greystar”), a global leader in the investment, development and management of high-quality rental housing properties, today announced a new ‘develop-to-core’ venture focused on funding purpose-built student accommodation (“PBSA”) and young professional accommodation in the Greater Paris Region, with an investment capacity of €1 billion.
This newly created platform will be governed through its board composed of Ivanhoé Cambridge as a majority shareholder, Bouwinvest and Greystar, which will also operationally manage the venture. The objective is to deploy funds to target new acquisitions, including ground-up developments and projects already under construction. The venture has already identified a significant pipeline of opportunities in the Paris Region and is targeting a number of initial acquisitions over the coming months.
The venture will focus on delivering best-in-class student and young professional accommodation, including exceptional amenities and services, with a preference for locations with exposure to the extensive Greater Paris public transport projects. This focus is aligned with the shareholders strategy in other major European cities, focusing on hubs with stable employment and long-term persistent rental housing demand, such as London, Berlin, Amsterdam and Vienna …
Student halls developer Empiric mothballs three projects
Developer Empiric Student Property has halted plans for three student accommodation projects as it seeks to protect cash reserves.
The firm announced this morning that it has decided to delay the developments until market conditions stabilise.
Projects delayed include the 232-bed Emily Davies scheme in Southampton, a Canterbury building refurbishment to create 134 beds and its 153-bed St Mary’s project in Bristol …
Plans in for £40m Leeds student apartment scheme
Student accommodation developer Pickard Properties has submitted detailed planning proposals to Leeds City Council for a new £40m apartment project.
The 604-bed scheme at Carlton Hill, designed by architect Halliday Clark, replaces a development designed by Halliday Clark and developed by Pickard Properties 23 years ago on the same site. The new design aims to provide affordable accommodation with student ‘wellbeing’ at its heart.
Adam Clark, Halliday Clark director, said: “We believe this scheme may be unique, certainly in Leeds, and possibly in the UK, specifically responding to the issues surrounding students’ mental health.” …
Unite back on site with 2020 student housing schemes
Student accommodation provider Unite Group says it has restarted coronavirus-affected work on all its developments due for completion in September, but that delivery of the 2,257 beds will still be delayed.
In an update to the City, the firm said work had now re-started across its three 2020 sites with “reduced numbers of operatives to maintain social distancing”, but that various options were being looked at regarding completion of the projects. It said these options included “phased delivery”, but did not say what the impact would be financially if Unite failed to deliver required schemes in time for the start of the academic year in September.
Unite has previously said it is due to deliver three student housing schemes containing 2,257 beds in time for the 2020/21 academic year, with capital spend on development running at up to £200m per year …
Green light for £215m L&G senior living scheme on site of old head office
Legal & General’s senior living business Inspired Villages has secured planning permission for a £215m scheme on the site of the insurer’s former head office in Kingswood, Surrey …
Moda and Apache submit plans for £258m Birmingham resi development
Moda Living and Apache Capital have submitted their plans for a 722-home build-to-rent project in Birmingham …
Future Generation secures loan for Sheffield scheme
Future Generation has refinanced a £39m development loan that will partly fund construction of the third phase of a Sheffield student accommodation scheme.
It comes at the end of five days of dealmaking for the company, which saw it secure another £55m development loan to construct two other student schemes in Loughborough and Nottingham.
The work on the final phase of Steel City, Sheffield, is being funded by the refinancing of another Maslow Capital development loan that covered construction of both Steel City and the completed Future Generation student scheme, Hythe Mills, in Colchester, Essex ..
EREC Estates plans to expand digs portfolio
EREC Estates is a joint venture company that brings together the sons of two very different real estate tycoons.
The Hon William Cadogan, son of Earl Cadogan, heads one half of the partnership, Trust Estates. The other half, European Real Estate Company (EREC), is led by Pan Rui, son of Pan Shiyi, chairman and founder of the developer SOHO China, which Blackstone is in talks with to buy for $4bn (£3.29bn).
The combination means EREC Estates, a specialist in student accommodation investment and development, is as well placed as any to take advantage of the hitherto growing influx of Chinese students into the UK …