Unite pays €82m for new site in Stratford, London

Unite Students has completed the acquisition of Jubilee House in Stratford for £73 million (€82 million/$89 million) from Schroders Capital UK Real Estate Fund (SCREF).

The existing office building will provide 716 beds for students.

The development in Farthingale Walk, Stratford, London, will also incorporate 65,000 square feet 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 2023, with total development costs estimated at £185 million (€209 million/$224 million). The student accommodation element of the scheme is scheduled for completion in time for the 2026/2027 academic year.

The student accommodation is being delivered as a university partnership, with the majority of the beds to be let to a London university under a deal known as a nomination a