Curlew Capital has closed a c. €65.4m (£60m) forward funding agreement with CKC Properties, for a purpose-built student accommodation development in Bermondsey, South East London. Planning for the scheme, which is expected to complete for the start of the 2022/23 academic year, was granted in March this year.
Located on Spa Road, overlooking Bermondsey Spa Gardens, the scheme will deliver 185 studio rooms across five floors, offering an array of amenity space including a study room, gym, cinema, roof lounge and additional social space. The development will be built to BREEAM Excellent standard and will also offer landscaped outdoor space for its residents across two private gardens and a roof terrace overlooking the square.
Occupying a prime Zone 2 location, students will benefit from the building’s excellent transport connections to three top London universities, with Bermondsey tube station less than 500 metres away and London Bridge, London’s fourth busiest station, within a short walk.
Commenting on the new development, CKC Managing Director Geoff Thomas commented: “It’s great to be partnering with Curlew to deliver much-needed student accommodation for the London catchment. Despite the challenging COVID-19 constraints, the respective teams were able to conclude the agreement rapidly. We look forward to working with Curlew on this exciting project.”
Charlie Oliver, Head of Acquisitions at Curlew Capital, added: “We are pleased to have entered into an agreement to fund CKC, alongside our institutional partner, CBRE GIP, who will deliver a high-quality scheme with excellent sustainability credentials and amenity provision. It further enhances our portfolio, adding a second London asset for the CST2 fund, in geography which we believe will continue to outperform underpinned by the dense concentration of world-class higher education institutions.”
