Unite Students has exchanged contracts to acquire a new 1,000-bed development site in London.
Total development costs are estimated to be around £195 million ($276 million).
The acquisition is subject to achieving a planning consent and is being supported through planning by Kings College London, with a view to securing a long-term nomination agreement.
The site is located in Middlesex Street, London E1, and completion of the new building is planned for the 2021–2022 academic year. This is a prime location in London and will provide much needed accommodation options for students.
London is home to more than 300,000 students and has three of the world’s top 25 Universities. The London student market remains significantly undersupplied with only 81,000 purpose-built beds currently in operation.
Unite is the leading operator of purpose-built student accommodation in London with more than 9,500 beds and partnerships with the leading universities c
