M&G Real Estate has acquired a 504-bed student accommodation development in Stratford, E20, from Get Living. The development of N16 Stratford, which is expected to have a gross development value of £135m, is set to be ready for students in the 2028/29 academic year.
The site was being marketed by Savills for offers of more than £30m. Earlier this month, Estates Gazette revealed M&G was under offer to acquire the site.
The plot, which will be developed by HG Living, has planning permission for two towers of 10 and 15 storeys. The development will also offer internal and external amenity spaces, cycle parking and associated public realm.
Alex Greaves, head of UK residential at M&G Real Estate, said: “N16 Stratford is an excellent addition to M&G’s significant student accommodation portfolio and addresses the acute need for quality accommodation in London for talented students to study, develop career paths and relax.
“We are excited about the opportunities it presents, alongside the potential for attractive returns in a market that has consistently shown resilience and growth.”
Craig McPhail, director at HG Living, added: “[M&G’s] expertise and strategic vision align perfectly with our commitment to delivering sustainable, high-quality accommodation with strong sustainability credentials in a key undersupplied student market.”
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