Prime Zone 1 site, Kings Place, London, has been sold to Unite Students.
It comes with planning permission for Purpose-Built Student Accommodation (PBSA). The purchase price is not being disclosed.
Kings Place is near Borough Underground Station and universities including King’s College London and University of the Arts.
The building project features 308 studio flats and 136 en-suite rooms in cluster flats for students, eight key worker residential apartments and a further 18,000 square feet of workspace accommodation. These are due to open for the 2027/28 academic year.
It also features a communal lounge, a cinema room, a health and well-being room, a multimedia room, karaoke, a games room, study space, pavilion kitchen and terraces.
Kings Place is exciting development
Tom Brewerton, Group Development Director, Unite Students, says, “Unite Students is leading the PBSA sector, and this new acquisition is an exciting development.
“The site benefits from full planning permission so allows us to start demolition soon, resulting in a swift delivery for the 2027/28 academic year.
“We are trusted by parents, students and universities to provide high quality, safe and affordable accommodation that supports the entire university experience and are committed to delivering our record £1.5bn development pipeline to meet this demand.”
The sale was completed by Savills, on behalf of private investors led by businessman Mike Jatania. He says, “We are pleased to have sold the site to a leading student provider who can deliver a top quality product. Having worked closely with project manager, the Sellar Group, the development will deliver high quality student accommodation as well as benefits to the wider community.”
James Barlow, Associate Director, UK PBSA in Savills OCM, says, “This deal is testament to the strength of the UK student housing market – the sector’s fundamentals remain particularly strong and London continues to be the top of most investors’ wish lists. This is due to the quality of higher education offered in the capital, the significant supply/demand imbalance and it being ranked best student city in the world for the sixth time running”.
The sellers were advised on legal matters by Memery Crystal.
Unite Students’ London aims to create 3,200 beds over the next five years, with a total planned investment of over £800 million.
This includes 716 new beds and a new home for the London Academy of Excellence, a sixth form, at its Hawthorne House property, which is replacing former office block Jubilee House on Farthingale Walk.
