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UK: Real estate investment manager Cain has introduced a purpose built student accommodation (PBSA) strategy in London, where it intends to provide 2,000 student beds in the capital.
The first project will be a 353-bed student accommodation development on the Greenwich Peninsula, close to the O2.
It is being built in partnership with RG Real Estate (RGRE) and will feature an 18-storey tower, with its completion slated for before the 2029/30 school year. The project is also targeting BREEAM accreditation.
Arvi Luoma, chief investment officer at Cain, said: “London is the world’s largest student city and continues to attract both domestic and international students seeking world-class education and long-term career opportunities. We have an established PBSA platform with strong development partnerships across the UK having already delivered assets across a number of major university cities, and continue to see a significant opportunity to scale the platform through high-quality product in some of Europe’s most dynamic university markets.”
Oliver Cummings, managing director, head of PBSA at Cain, added: “London continues to face a severe shortage of high-quality student accommodation and we believe well-located, highly amenitised schemes such as this will continue to attract long-term demand. We’re pleased to be working with a new development partner in RGRE, alongside RG Group as General Contractor on the scheme. We are already collaborating with RG Group on the construction of two projects in Leeds and Bristol and look forward to building on the relationship through this exciting new development.”
The transaction follows Cain’s entry into Italy last week through a partnership with Global Student Accommodation.
Today, the Cain’s PBSA platform offers approximately 4,000 beds across major university cities including Bristol, Leeds, Manchester, Liverpool and Rome, with a gross development value of about €1.2 billion.
The firm has ambitions to grow the platform to 10,000 beds over the next five years.
Highlights:
- Cain has launched a dedicated London PBSA strategy targeting the delivery of 2,000 student accommodation beds across the UK capital.
- The strategy’s first development is a 353-bed student housing scheme on Greenwich Peninsula, being delivered with RG Real Estate for 2029/30 completion.
- Following its recent expansion into Italy through a partnership with Global Student Accommodation, Cain aims to grow its European PBSA platform to 10,000 beds.
- Cain’s existing student housing platform represents approximately €1.2 billion in gross development value and around 4,000 beds across major university citie
