Student accommodation developer Unite has agreed a 15-year lease to King’s College London for its new 674-bed scheme in the South Bank, SE1.
It is the first time Unite has agreed a lease with KCL. The deal is for 97% of the circa £100m Moonraker Point scheme at 61-63 Great Suffolk Street, meaning the university is taking 654 rooms.
Some of the remaining rooms will be free of charge to students that are part of a bursary scheme provided by Unite’s Foundation trust.
The development will be ready by September 2012, and student rents could be around £200 per week.
Richard Simpson, managing director of Unite, said: “This agreement demonstrates the continued demand for student accommodation in the capital.”
joanna.bourke@estatesgazette.com
