Malaysia’s Gamuda Berhad and Singapore-based Q Investment Partners (QIP) are preparing to expand their flagship purpose-built student accommodation (PBSA) scheme on Beresford Street, Woolwich, London, adding 120 new bedrooms to the existing development. This new phase will bring the total number of student beds across both phases to 419, with a combined gross development value (GDV) reaching approximately £144.5 million. The phase two site, acquired from London investor and developer Hurlington Capital, is expected to complete by the fourth quarter of 2026.

The expansion comes as a strategic move, reflecting both parties’ confidence in the long-term prospects of the UK’s PBSA market. Phase one comprises 299 bedrooms, representing a mix of studios and cluster rooms, and recently celebrated its topping out—a milestone marking structural completion. This initial phase was developed under a joint venture formed in 2023 between Gamuda, QIP, and Hurlington Capital, the latter being the initial site acquirer back in 2020. The first phase is targeted for delivery in time for the 2026/2027 academic year.

Located within the former Royal Arsenal’s ongoing multi-billion-pound regeneration project, the Beresford Street scheme benefits from excellent transport links including the Elizabeth Line, enabling students to reach major universities such as the University of Greenwich, King’s College London, and London School of Economics in under 35 minutes. This connectivity enhances the asset’s appeal to a broad student demographic seeking high-quality accommodation in accessible London locations.

The development itself is designed with a strong emphasis on student wellbeing and sustainability. Phase one aims to meet BREEAM Excellent and EPC A ratings, reflecting high environmental standards. The accommodation includes a range of amenities such as private study spaces, fitness and yoga rooms, games areas, bicycle storage, and a community hub with commercial facilities, promoting a balanced lifestyle for residents. Notably, 35% of the units are designated as affordable student accommodation, addressing the growing demand for reasonably priced housing in London.

Financially, the joint venture secured a £47.3 million loan facility to support the initial phase, underscoring confidence from lenders in the resilience of the UK student housing sector. Alpha Property Lending, a specialist in commercial real estate finance, highlighted the strategic value due to the site's proximity to key university campuses and the new Elizabeth Line, which facilitates rapid access to central London and other academic hubs.

The partnership’s leadership emphasises the importance of this development not only as an investment opportunity but as a means to contribute positively to the communities and student populations served. Chu Wai Lune, CEO of Gamuda Land, stated their commitment to scaling PBSA assets in key academic cities with a focus on quality design and community integration. Meanwhile, Peter Young, CEO and co-founder of QIP, reinforced their long-term dedication to the UK PBSA market, with plans to deliver over 2,000 student beds across prime university cities through similar collaborations.

This project represents a significant step for both companies: it is Gamuda’s first UK student housing project and part of their broader strategy to grow their footprint in international student accommodation markets. For QIP, this development marks their first scheme in London and their largest single-asset transaction to date in the UK, further signalling their ambition to deepen their presence in the competitive London student housing market.

While phase one is progressing steadily, phase two will build upon this momentum, aiming to complete by late 2026 and reinforcing the broader regeneration goals of Woolwich’s Royal Arsenal, a district undergoing rapid transformation into a vibrant residential and commercial locale. The collaboration between Gamuda, QIP, and Hurlington Capital exemplifies a growing trend of international investment and development partnerships targeting student housing as a resilient and socially impactful asset class.

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Source: Noah Wire Services