Henderson Park, the international real estate investment manager, has agreed to forward fund a 453-bed purpose-built student accommodation portfolio from specialist UK-based PBSA developer, Alumno Group.
The portfolio comprises two strategically positioned development projects with planning consent in Edinburgh and Glasgow, two of the UK's most undersupplied student accommodation markets. The transaction arrives at a pivotal moment as international student demand intensifies and the UK's 18-19 year-old population approaches a record 1.7 million by 2030, creating a structural supply-demand imbalance that positions this acquisition as particularly compelling for institutional investors seeking counter-cyclical assets with inflation-hedged income streams.
Jock's Lodge in Edinburgh delivers 191 beds approximately 3 kilometres from the University of Edinburgh, ranked 5th in the UK and 27th globally. Located in the Meadowbank suburb, the development offers convenient access to the city centre and its prestigious universities, as well as Holyrood Park and Arthur's Seat. St George's Road in Glasgow provides 262 beds just 1.3 kilometres from the University of Glasgow, ranked 11th in the UK and 78th globally. Situated in the vibrant Woodlands district within the sought-after west end student neighbourhood, the property sits within walking distance of Glasgow Caledonian, University of Strathclyde, the Glasgow School of Art and the City of Glasgow College.
Alumno Group, responsible for delivering both projects, brings extensive experience with over 8,500 beds completed across the UK. Practical completion is scheduled for the 2027-28 academic year. Both developments target BREEAM Excellent and EPC A ratings, incorporating on-site gyms, private study rooms, dining facilities, communal courtyards and rooftop terraces, alongside diverse room types accommodating various student budgets.
Edinburgh and Glasgow maintain high student-to-bed ratios, serving full-time student populations of approximately 75,000 and 78,000, respectively. The sites are strategically positioned to capture demand from international students at flagship universities whilst benefiting from growing domestic student numbers.
"This transaction represents a rare opportunity to secure two derisked purpose-built student accommodation assets in prime, undersupplied locations at the last stage of their development cycle and at an attractive all-in entry cost," commented Christophe Kuhbier, Head of Investments, Europe, at Henderson Park. "With international students continuing to be drawn to the UK's world-leading universities, combined with a growing domestic student-age population, we believe the structural supply-demand imbalance is set to intensify over the coming years. Partnering with Alumno Group, a highly experienced developer with a proven track record in this sector, gives us confidence in the delivery of two high-quality, market-leading assets that will meet student expectations."
David Campbell, Founder & Managing Director of Alumno, added: "We are delighted to be working in partnership with a company as highly regarded and respected as Henderson Park, having built up a strong working relationship with the team, and we look forward to building on this exciting chapter for the company."
Henderson Park manages over 5,500 PBSA and build-to-rent units across Europe, demonstrating substantial experience in targeting high-quality assets in leading European university cities.
People mentioned:
Christophe Kuhbier, Head of Investments, Europe, Henderson Park
David Campbell, Founder & Managing Director, Alumno Group
Companies mentioned:
Henderson Park – International real estate investment manager
Alumno Group – Specialist UK-based PBSA developer
Image Source: Alumno Group
