Property investor agrees funding deal for student housing in Bermondsey
A property investor has demonstrated confidence in London student housing, committing £60 million to fund the development of new accommodation in Bermondsey.
Curlew Capital, on behalf of one of the funds it manages, said it has agreed the purchase of a site where there is planning permission for a 185-bedroom scheme.
It is being acquired from CKC Properties which will develop the project, and construction is expected to complete in time for the 2022/23 academic year.
Occupiers at the scheme on Spa Road will get access to a cinema room and rooftop terrace.
Charlie Oliver, head of acquisitions at Curlew Capital, said the purchase adds a second London asset for the CST2 fund, “in a geography which we believe will continue to outperform underpinned by the dense concentration of world-class higher education institutions”.
Student housing landlords saw business disrupted this year due to Covid-19, with some firms seeing would-be tenants delaying booking accommodation.
Landlord Empiric last month said it was anticipating more bookings from people that were waiting for clarity on A-Level results.