Unite buys site for 36-floor London student tower

23/2/23

The site of the existing Jubilee House office building has full planning consent for a 36-storey tower providing 716 beds for students.

The development in Farthingale Walk will also incorporate 65,000 sq ft of academic space, which will be occupied by the London Academy of Excellence (LAE) for an initial 35-year term, through the Secretary of State for Levelling Up, Housing and Communities.

Work is expected to begin on the scheme in the second quarter of this year, with total development costs estimated at £185m.

The student accommodation element of the scheme is being delivered as a university partnership, with the majority of the beds to be let to a London university for the 2026/27 academic year.

Joe Lister, Unite Students' Chief Financial Officer, said: "This is an exciting opportunity in a great location, where we already provide homes to over 2,000 young people, and underpins our ongoing commitment to help meet London's much-needed student accommodation demands.

"We are also proud to support a new collaboration with the London Academy of Excellence. Complementing our own values, the LAE is dedicated to supporting students, particularly those from less-advantaged backgrounds, in securing places at some of the UK's best universities."

Unite Students acquired Jubilee House from Schroders Capital UK Real Estate Fund (SCREF).

Source: Construction Enquirer