Student accommodation specialist Unite has won unanimous planning consent for its 563-bed development in the heart of Camden, London.
The proposal is in partnership with Travis Perkins (Properties) Ltd, which will be provided with a new trading facility at the ground floor of the development.
The project, which includes a range of cluster apartments and studios, is scheduled for completion in 2013
Unite has now secured planning permission and funding for 1,900 beds of its target 4,000 London pipeline. A further 900 are secured and awaiting planning permission, while the company says it is confident of securing the remaining 1,200 beds in the second half of 2011.
Richard Simpson, Unite’s development director, said: “The scheme in Camden is a further milestone in our target to substantially expand our presence in the key London market. We expect London to continue to benefit from strong market fundamentals, with the supply/demand imbalance still a key factor, and we expect it to remain the most attractive and thereby resilient destination for UK and international students.”
CN reported last week on a Drivers Jonas Deloitte report, which said that despite a 90 per cent increase in student digs construction in the capital, facilities in London are well short of what is required.