UK: Vita Group has secured more than £200 million in debt financing to build a 48-storey PBSA tower in London’s Canary Wharf .
The finance was provided by asset management and insurance holding company Eldridge Capital Management. The deal is the eighth between Eldridge and Vita Group.
Located at 30 Marsh Wall, south of the West India Docks, the development will feature 1,068 studio apartments across eight-unit types ranging from 18 to 46 square metres. Scheduled for completion in September 2028, Tide Construction is serving as developer and contractor – its second project with Vita Group.
Amenities will include a gym, cinema, games room, coworking spaces, and food and beverage options. Vita Group will provide a social events calendar, contents insurance, concierge services, career tools, and fortnightly room cleaning.
Ioannis Verdelis, chief investment officer at Vita Group, said: “With its prime location in Canary Wharf and an unmet demand for student accommodation, this project represents an exciting opportunity to introduce Vita’s exceptional living experience to a new market. Our focus on creating vibrant communities, supported by high-specification amenities and services, ensures that students thrive both academically and personally.”
John Cole, global head of real estate credit, Eldridge Capital Management, said: “Our continued partnership with Vita Group represents an important step in tackling the pressing need for purpose-built student housing, while also supporting the transformation of Canary Wharf into a vibrant residential area. As the UK’s largest student market, with 42 per cent of its population coming from overseas, London faces a significant shortage of high-quality accommodation. The debt deal ticks every single box that we look for as a lender.”
