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Greystar Real Estate to construct 20-story PBSA development at Wembley Park
Greystar Real Estate Partners has acquired a site at Wembley Park from Quintain, on which the firm will build a 20-story purpose-built student accommodation development. The acquisition was made on behalf of Greystar’s pan-European residential fund, GEPE I, but financial terms were not disclosed.
The purpose-built student accommodation development will consist of 770 beds alongside 7,480 square feet of internal amenity space. The development will also include 9,096 square feet of external amenity space. The scheme has been designed to a BREEAM Excellent rating and features two lounges, a gym, a screen room, games room, private dining space, a communal study area, socializing space, cycle storage spaces, and external gardens and podiums.
The site is part of a 12-acre district that will ultimately deliver 2,347 residential units of varying tenures next to the biodiverse seven-acre Union Park. Development will begin immediately, with first occupancy starting in Septembe