6 April 2017
Reporter: Theo Andrew
Investec puts up £47.7 million for London student development
Investec Structured Property Finance has provided £47.7 million over two years, to finance a student accommodation scheme in Walthamstow, London.

The senior debt loan to Curlew Student Trust (CST) will help develop a 527-bed Grade-A purpose built student accommodation building.

Mannequin House, adjacent to Blackhorse Road underground and overground stations, will be accessible from central London within 20 minutes.

The development, forward funded by CST, is scheduled to be completed in July of this year and open in time for the 2017/18 academic year.

Mark Bladon, property lender at Investec, said: “The student accommodation sector remains one of the most attractive asset classes for investors, as the UK faces an ongoing supply-demand imbalance in certain sub-markets.”

“London in particular, where we are building a track record of providing bespoke debt facilities for leading developers, on competitive terms, will continue to see a requirement for brand-new purpose-built space, as the global leader in the provision of quality higher-education.”

London has 4.19 students per purpose-built bedspace, according to Student Market Analysis and a JLL market report.

Bladon added: “This facility, which straddles both the development phase and an investment period, allows us to commit to the scheme as it becomes income generating and we look forward to working alongside one of the sector’s most successful and respected investors.”

Brett Robinson, director at Curlew Capital, said: “Student accommodation continues to deliver market leading returns and Curlew is pleased to have arranged finance with a credible lender that is experienced in this sector and who we look forward to building a lasting relationship with during this project.”

“Development of the scheme is ahead of schedule with the marketing suite open for potential tenants to view. We are seeing good interest from universities keen to secure what we believe will be an exemplar scheme for their students.”

More news
The latest news from Real Estate Investment Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
Dolphin Living makes splash with Retail Charity Bond
23 June 2017 | London | Reporter: Theo Andrew
The money raised will be invested in Dolphin Living’s London portfolio, which includes 196 homes currently under development
New York apartment block bagged for $57 million
23 June 2017 | New York | Reporter: Theo Andrew
The 53,000-square foot 12-storey property consists of 54 one-, two- and three-bedroom newly-refurbished units
AEW Germany fund hits €118 million on first close
22 June 2017 | Berlin | Reporter: Theo Andrew
Focusing on Germany’s seven main cities, the fund will also strategically target other established office locations around the country
Wanda HK acquires Nine Elms Square for £470 million
21 June 2017 | London | Reporter: Theo Andrew
Vinci St. Modwen, the 50/50 joint venture between St. Mowden Properties and Vinci expects to complete the sale of the 10-acre site later this summer
Majority stake in Barcelona Hilton bagged by AXA IM - Real Assets
21 June 2017 | Barcelona | Reporter: Theo Andrew
Purchased from Iberdrola Inmobiliaria on behalf of AXA Insurance Companies, the 4-star hotel is currently operated by Hilton Hotels on a long-term lease
UK self-storage market expands for third year running
21 June 2017 | London | Reporter: Theo Andrew
The UK now accounts for 47 percent of Europe’s self-storage space, according to the UK Annual Industry Report
Hermes dispatches East London portfolio to Great Portland Estates
20 June 2017 | London | Reporter: Theo Andrew
Spanning 1.1 acres, the properties are located between Aldgate and the new Whitechapel Crossrail Station