Lucy Cavendish College (LCC), Cambridge, in partnership with funding provider Macquarie Asset Management, has taken a significant step forward in its expansion plans with the acquisition of 355-studio bedrooms at Castle Street, Cambridge. The move underpins the College’s long-term commitment to growth, inclusion, and providing high-quality, modern accommodation for its students.
The acquisition of the Castle Street property, previously occupied by the College under a three-year lease, represents a strategic milestone in LCC’s development and brings the total number of rooms under its control to c. 600 following significant growth to over 1000 students in recent years.
The transaction was facilitated by Bidwells, who advised LCC throughout the process. The property was acquired from Arlington Advisors' clients, with long-term funding arranged by Macquarie Asset Management on behalf of its institutional clients. LCC was also advised by Barr Ellison, while Arlington Advisors was represented by Beachrock, and Macquarie Asset Management by Addleshaw Goddard and Marle Place Property.
Tony McNiff, Bursar at Lucy Cavendish College commented: “The acquisition of the Castle Street accommodation is a significant step forward for Lucy Cavendish College. It brings us closer to our goal of providing high-quality accommodation and pastoral care to all our students, many of whom come from underrepresented and disadvantaged backgrounds. This purchase supports our mission to be one of the most dynamic and inclusive colleges within the University of Cambridge.”
Hugo James, Managing Director at Macquarie Asset Management, said: “The Castle Street property provides vital accommodation infrastructure for Lucy Cavendish College and is a key component of its estate strategy in an undersupplied Cambridge student accommodation market. We are delighted to support LCC’s overall mission and purpose, and enable this acquisition via a bespoke, long-term financing solution.”
Colin Summers, Partner in Bidwells’ Capital Markets team, added: “The Castle Street acquisition highlights LCC’s strategic approach to meeting the evolving needs of its student body while reinforcing its position as a leading institution within the Cambridge University ecosystem.”
Image source - Lucy Cavendish College.
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