Unite Students has acquired a 444-bed purpose-built student accommodation scheme in Southwark, SE1, for £60m.
Southwark Homes, working alongside Sellar, appointed Savills to seek a forward-funder for King’s Place, which has a GDV of £200m, in May 2023. It will provide 308 studio flats and 136 en-suite rooms in cluster flats for students, eight key worker residential apartments and a further 18,000 sq ft of workspace accommodation.
King’s Place is expected to be open for the 2027/28 academic year.
Tom Brewerton, group development director at Unite Students, said: “We are delighted with the acquisition of Kings Place; a high-quality development in a central London location close to a range of London’s leading universities and Borough Underground Station.
“Unite Students is leading the purpose-built student accommodation sector and this new acquisition is an exciting development. The site benefits from full planning permission so allows us to start demolition soon resulting in a swift delivery for the 2027/28 academic year.
“We are trusted by parents, students and universities to provide high quality, safe and affordable accommodation that supports the entire university experience and are committed to delivering our record £1.5 billion development pipeline to meet this demand.”
Image © Secchi Smith
Send feedback to Akanksha Soni
Follow Estates Gazette
