Singapore-based private equity firm Q Investment Partners (QIP) and London-based investor and developer Hurlington Capital have formed a joint venture to develop an £80 million purpose-built student accommodation (PBSA) site in Woolwich, London.
The project, which will be QIP’s entrance into the London PBSA market, represents part of the multibillion-pound regeneration of the former Royal Arsenal and is ideally situated.
The 298-bed scheme, located at 81-88 Beresford Street, has secured planning consent in August 2022 and is the first PBSA development in the area. The joint venture is expected to deliver high-quality and affordable accommodation for students in London.
QIP and Hurlington Capital’s partnership is a strategic move to tap into the growing demand for student accommodation in London. The joint venture combines QIP’s expertise in real estate investment with Hurlington Capital’s experience in property development and management.
Hurlington Capital’s Inaugural Foray
London-based investor and developer, Hurlington Capital, has joined forces with Singapore-headquartered private equity firm Q Investment Partners (QIP) to develop an £80 million purpose-built student accommodation (PBSA) site in Woolwich, London.
This partnership marks Hurlington Capital’s inaugural foray into the PBSA market, following a decade of activity in residential for-sale and co-living markets.
Hurlington Capital has a proven track record of delivering high-quality residential developments across London and the UK. The company has a reputation for delivering innovative and sustainable projects that meet the evolving needs of modern-day living. With this new joint venture, Hurlington Capital aims to leverage its extensive experience in the residential market to develop a state-of-the-art PBSA scheme that caters to the needs of the growing student population in London.
The company’s decision to enter the PBSA market is a strategic move that aligns with its long-term growth plans. With the UK’s student population set to increase in the coming years, Hurlington Capital sees the PBSA market as a lucrative opportunity that offers attractive returns.
The company’s joint venture with QIP is a testament to its commitment to delivering high-quality projects that cater to the evolving needs of modern-day living.
In conclusion, Hurlington Capital’s inaugural foray into the PBSA market is a strategic move that aligns with the company’s long-term growth plans. With its extensive experience in the residential market, the company is well-positioned to deliver a state-of-the-art PBSA scheme that caters to the needs of the growing student population in London.
Singapore’s QIP
Singapore-based private equity firm Q Investment Partners (QIP) has formed a joint venture with London-based investor and developer Hurlington Capital to develop an £80 million purpose-built student accommodation site in Woolwich, London.
This marks QIP’s entrance into the London PBSA market.
QIP is a leading private equity firm headquartered in Singapore. The firm invests in real estate, hospitality, and healthcare sectors globally. QIP has a strong track record of investing in high-quality assets and creating value through active asset management. The firm has a team of experienced professionals with deep industry expertise and a strong network of contacts.
QIP has a diversified portfolio of investments across Asia, Europe, and the Americas. The firm has invested in a range of real estate assets, including office buildings, hotels, residential properties, and logistics facilities. QIP has a long-term investment horizon and focuses on creating sustainable value for its investors.
QIP’s investment in the London PBSA market is a strategic move, given the strong demand for student accommodation in the city. London is a leading global education hub, with over 40 universities and higher education institutions. The city attracts a large number of international students, who require high-quality accommodation during their studies.
QIP’s joint venture with Hurlington Capital demonstrates the firm’s commitment to partnering with local experts to deliver high-quality assets. Hurlington Capital has a strong track record of developing and investing in real estate assets in London. The firm has a deep understanding of the local market dynamics and has a network of contacts across the industry.
Overall, QIP’s investment in the London PBSA market is a testament to the firm’s confidence in the long-term growth prospects of the sector. The joint venture with Hurlington Capital is expected to deliver a high-quality asset that meets the needs of students in London.
The £80 Million London Student Homes Project
Q Investment Partners (QIP), a Singapore-based private equity firm, and Hurlington Capital, a London-based investor and developer, have joined forces to develop an £80 million purpose-built student accommodation (PBSA) site in Woolwich, London.
The project will be located at 81-88 Beresford Street and will consist of studios and cluster rooms, providing accommodation for up to 600 students. The development will be located close to the University of Greenwich and will offer easy access to public transportation, making it an attractive option for students.
The project is expected to be completed by the start of the 2025 academic year, and will be managed by a leading student accommodation provider. The development will offer a range of amenities, including a gym, study areas, and communal spaces for students to socialise and relax.
The Woolwich development is part of QIP’s strategy to expand its portfolio of student accommodation properties in the UK and Europe. The joint venture with Hurlington Capital will allow QIP to leverage Hurlington’s local knowledge and expertise in the London property market.
The £80 million London Student Homes project is a significant investment in the UK’s student accommodation sector, which has seen strong demand in recent years. The project will provide high-quality accommodation for students in an area that is currently underserved by purpose-built student accommodation.
Overall, the joint venture between QIP and Hurlington Capital is a confident and knowledgeable move that will provide much-needed student accommodation in Woolwich, London.
Development Management Responsibilities
QIP and Hurlington Capital have formed a joint venture to develop an £80 million purpose-built student accommodation site in Woolwich, London. QIP’s development arm will lead as development managers, with alignment equity from Hurlington Capital. This partnership marks QIP’s inaugural foray into London’s PBSA market.
The joint venture will be responsible for the development management of the project, with both parties sharing the responsibilities. QIP is investing the primary equity, with alignment equity from Hurlington Capital. The project is the first joint venture between the private equity real estate investor and Hurlington Capital.
Jamie Feldman, CEO and founder of Hurlington Capital, expressed his pride in the Woolwich development, which marks the company’s debut in the PBSA market. The joint venture is planning three more schemes, with the Woolwich project being the first.
The joint venture’s development management responsibilities will include planning, design, construction, and marketing of the student accommodation site. The project is expected to be completed in 2025, with 400 beds across two buildings.
Overall, the joint venture between QIP and Hurlington Capital brings together the expertise and experience of two leading real estate investors and developers. The development management responsibilities will be shared between the two parties, ensuring the project’s success and timely completion.
Investment and Funding
Singapore-based private equity firm Q Investment Partners (QIP) and Hurlington Capital have formed a joint venture to develop an £80 million purpose-built student accommodation site in Woolwich, London. QIP has a proven track record of investing in various sectors, including real estate, technology, and healthcare. The firm has a global reach and a strong focus on emerging markets.
The joint venture will be funded through a combination of primary equity, alignment equity, and debt. Primary equity refers to the initial investment made by the investors, while alignment equity is a form of equity that aligns the interests of the investors and the management team. The debt component of the funding will be provided by banks and other financial institutions.
QIP and Hurlington Capital have a shared vision for the development of the student accommodation site, which is expected to provide high-quality accommodation for students attending universities in London. The development will feature modern amenities, including communal spaces, study areas, and recreational facilities, to enhance the student experience.
The joint venture’s investment in the student accommodation site is a testament to the strength of the UK’s real estate market and its attractiveness as an investment destination. The UK’s higher education sector is also a significant driver of demand for purpose-built student accommodation, with increasing numbers of international students choosing to study in the country.
Overall, QIP and Hurlington Capital’s joint venture demonstrates the continued interest of private equity firms in the UK’s real estate market and highlights the potential for further investment in the purpose-built student accommodation sector.
The London PBSA Market
London is one of the most popular destinations for international students, with over 100,000 students from all around the world studying in the city. As a result, the demand for purpose-built student accommodation (PBSA) has been on the rise in recent years.
The London PBSA market has been expanding rapidly, with several new PBSA schemes being developed every year. According to a report by JLL, the total number of PBSA beds in London is expected to reach 150,000 by the end of 2023.
The rise of PBSA schemes can be attributed to the increasing demand for high-quality student accommodation. PBSA schemes are purpose-built to meet the specific needs of students, with features such as communal areas, study rooms, and on-site facilities like gyms and cinemas.
In addition to meeting the needs of students, PBSA schemes also provide a stable and reliable investment opportunity for developers and investors. The London PBSA market has proven to be a lucrative investment opportunity, with high occupancy rates and steady rental yields.
QIP and Hurlington Capital’s joint venture to develop an £80 million PBSA scheme in Woolwich, London, is a testament to the growing demand for high-quality student accommodation in the city. The development is expected to provide 500 beds and is set to be completed in 2025.
Overall, the London PBSA market is a thriving industry that shows no signs of slowing down. With the number of international students in London expected to rise in the coming years, the demand for high-quality student accommodation is only going to increase.
Community Engagement and Planning Challenges
Community engagement and planning challenges were crucial aspects of the £80 million student housing project in Woolwich, London, developed by QIP and Hurlington Capital. The project was the first purpose-built student accommodation (PBSA) scheme in the area, and it required careful planning and community engagement to ensure its success.
The local community group meetings were an essential part of the planning process, and QIP and Hurlington Capital engaged in regular discussions with the community to address their concerns and provide updates on the project’s progress. The developers also worked closely with the local council to ensure that the project met all the necessary planning requirements and obtained planning consent.
One of the significant planning challenges was to ensure that the project’s design was in keeping with the area’s character and heritage. The developers worked with architects and planners to create a design that reflected the local architecture and incorporated sustainable features, such as green roofs and solar panels.
Another challenge was to ensure that the project’s construction did not cause any disruption to the local community. The developers implemented a strict construction management plan that included measures to minimise noise and dust pollution, limit construction traffic, and ensure the safety of pedestrians and cyclists.
Overall, QIP and Hurlington Capital demonstrated their commitment to community engagement and sustainable development throughout the project. Their efforts paid off, as the project was completed on time and within budget, and it has provided much-needed student accommodation in the area.
