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UK: Developer Watkin Jones and funding partner Maslow Capital have jointly acquired a £101.7 million GDV site in Bristol with plans to build a 484-bed PBSA asset.
The site is located on Malago Road and is set to feature studios and 40 non-ensuite bedrooms across three blocks.
BREEAM Excellent, EPC B and WiredScore Silver are all targeted for the project.
George Dyer, group investment director at Watkin Jones, said: “This transaction with Maslow Capital, our second collaboration together, demonstrates the strength of our proposition and the quality of our PBSA offering across the UK. Bristol has firmly established itself as a destination of choice for students, and we’re delighted to deliver a sustainable, high quality scheme, supporting the city and university’s growing student population.”
Sky Mapson, senior director, origination at Maslow Capital, said: “We are pleased to support Watkin Jones on a second large-scale PBSA transaction through our joint venture, following The Ard in Glasgow. Their proven record in delivering high quality student accommodation gives us conviction in the sponsor and the successful delivery of this Bristol asset.”
Rachael Gordon, head of deal execution (UK and Europe) at Maslow Capital, added: “Bristol remains one of the UK’s most undersupplied student markets, with demand for purpose-built accommodation continuing to outstrip available stock. This 484 bed scheme is close to the University of Bristol’s new Temple Quarter campus and Bedminster station. Its scale, specification and location leave it well positioned to capture that demand and deliver resilient long-term income.”
Highlights:
- Watkin Jones and Maslow Capital have acquired a £101.7 million GDV site in Bristol to develop a 484-bed purpose-built student accommodation scheme.
- The PBSA project will include studios and 40 non-ensuite rooms across three buildings near Bedminster station and the University of Bristol’s Temple Quarter campus.
- The development is targeting BREEAM Excellent, EPC B and WiredScore Silver sustainability and connectivity standards.
- The transaction marks the second PBSA collaboration between Watkin Jones and Maslow Capital following a project in Glasgow.
