Investec has handed student housing developer Tribe £35m to complete its scheme in South Bermondsey.
The 250-unit scheme, which will be the London and South East-focused student housing developer’s first ground-up project, will comprise 137 private en suite units, 25 studio units and 88 affordable en suite units.
It also includes on-site amenities and collaborative workspace, 58 affordable homes and around 12,500 sq ft of commercial space, a 15-minute walk from South Bermondsey train station.
The development facility with investment tail is Investec’s first deal with Tribe, although it has previously had dealings with Tribe’s founders.
Tribe managing director Laurence Quail said: “We are delighted to be working with Investec on the delivery of this exciting new scheme, which we have carefully designed to best meet the needs of today’s students for well-located, high-quality, good value for money accommodation. Tribe is actively growing, with in excess of 1,000 further beds already in the pipeline across London.”
A statement issued by Investec’s Ian Burdett and Stuart Scott said: “Student accommodation has been a strong sector for Investec in recent years and we remain bullish on its outlook, especially in London where this latest scheme is well located to benefit from the market’s structural undersupply and continued demand from domestic and international students. It is particularly pleasing to be working with Tribe on their first PBSA scheme, we look forward to leveraging our deep sector expertise to support them with their debut student development project and hopefully working with them again in the future.”
Since the start of 2015, Investec has committed more than £850m to the PBSA sector, financing more than 18,500 beds across more than 50 schemes in 23 university cities.
Tribe was founded in 2020 by a team with over 25 years development experience in the UK private housing sector. It currently has five sites in its pipeline.
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