6th August 2024
We’ve successfully acted for Unite Students in their acquisition of a 444-bed purpose-built student accommodation scheme in Southwark. The deal, which has a Gross Development Value of £200 million, highlights Unite Students’ commitment to providing high-quality, safe, and affordable student accommodation.
The acquisition, known as King’s Place, was previously under the direction of Southwark Homes and Sellar, who appointed Savills to seek a forward-funder in May 2023. The development is set to provide 308 studio flats, 136 en-suite rooms in cluster flats for students, 8 key worker residential apartments, and an additional 18,000 sq. ft of workspace accommodation.
This successful acquisition further solidifies Unite Students’ position as a trusted provider of student accommodation and aligns with their commitment to delivering a record £1.5 billion development pipeline.
Our team was led by Real Estate Partner Will Cousins with support by a cross disciplinary team including: Emma Wilson (Real Estate), Josh Kitson and Rebecca Delaney (Planning), Tom Peel and Jess Gates (Construction), Andrew Northage and Michael Cordeaux (Regulatory), Nicola Parkinson and Greg Benson (Tax), and Lewis Couth and David Manda (Property Litigation).
Tom Brewerton, Group Development Director at Unite Students commented: “Unite Students is leading the purpose-built student accommodation 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.”
Will Cousins added: “We’re proud to support Unite Students in this major acquisition. This deal showcases their dedication to quality student accommodation and our team’s diverse expertise at Walker Morris. We’re excited to see the positive changes this development will bring to Southwark’s student community.”