New student housing project planned in Hackney Wick
A property developer is looking to create a 200-bed student digs project in Hackney Wick, as investors bet on post-pandemic demand for accommodation being strong.
Southern Grove, subject to securing planning consent, intends to build the student housing, as well as a gym, at Fish Island.
The pandemic hit occupation levels for a number of student housing operators, as many people did remote learning away from their university campus.
But the market has picked up, with firms such as Unite reporting strong demand for the upcoming academic year.
Tom Slingsby at Southern Grove pointed to the capital being home to a string of world-leading academic institutions.
He added: “We’ve got huge confidence in student accommodation as an investment class within London.”
Oli Buckland, senior director, head of pbsa (purpose built student accommodation) transactions at property agent CBRE, said: “London is the most under-supplied city in the country for purpose built student accommodation and as such London investment and development opportunities are highly sought after.”