Cubex and Alara acquire £100m Bristol PBSA site

Cubex and its joint venture partner, Alara Investments, have acquired a £100m GDV brownfield site in Bristol’s Temple Quarter Enterprise Zone. The jv plans to develop a 550-bed purpose-built student accommodation scheme on the site, which is located close to the University of Bristol’s new Temple Quarter Enterprise Campus, due to open to 4,500 new students in 2026. Cubex, which is backed by Fiera Real Estate, is consulting with Bristol City Council as well as other stakeholders and plans to submit a planning application for the scheme in the coming months. This scheme will be Cubex’s first venture into student accommodation and forms part of its strategy of expanding into the wider living sector, covering BTR, PBSA and co-living, in key UK cities. Joe Downey, managing director at Cubex, said: “PBSA has been on our radar for some time, specifically in Bristol where demand from students continues to soar versus a backdrop of limited high-quality supply. “We are big believers in the micro-location, and the proximity to the new University of Bristol campus, which really is a game changer for this part of the city. As always, we are working very closely with Bristol City Council to deliver the overall best scheme for the city.” Jonathan McLaren, director at Alara, added: “This marks an exciting transition for Alara into the PBSA space. The scheme will deliver a best-in-class, sustainable development for the benefit of Bristol students. We are continuing to explore other opportunities as property becomes a core focus for our business.” View current availabilities in Bristol >> Image © Corstorphine & Wright