Reading time: 1 min

£16 million development finance for student accommodation schemes

1 Sep 2017 By octopus property

We provided a 24 month, £16 million senior financing facility to Ankor Property, for the development of two Grade-A London schemes, in Ealing and Greenwich, available to students for the start of the 2017/18 academic year.

In Ealing, the scheme comprises of 124 bed spaces, arranged over four floors, in a combination of self-contained studio and twin bedrooms. Just a short walk from the University of West London and well–served by Ealing’s excellent tube and train links, the scheme has been designed to a high specification and will be operated by Homes for Students, one of the UK’s most established operators. 

The Greenwich scheme comprises 33 self-contained and fully-furnished en-suite studio apartments, completed to a high specification including integrated kitchen, high speed internet and wall-mounted flat screen smart televisions. Situated on Denham Street, the property benefits from its close proximity to Greenwich Docklands Light Railway and North Greenwich Tube, which provide fast access to several central London University campuses.

Nori Touati, Manging Director at Ankor Property, said:

“Greenwich and Ealing represent our first two completed student accommodation developments, and we are excited to be delivering them in time for the start of the 2017/18 academic year, with the support of the Octopus team throughout the process invaluable in helping us achieve this.

We have a number of other projects in the pipeline at various stages of the development process as we focus on becoming one of UK’s most forward thinking and highly trusted property developer.”

According to recent data(1), London has 376,000 students, of which 278,000 are full time. This equates to 4.19 students per purpose built bedspace with 82,000 students in the target market without access to PBSA.

1) Source: London Student Market Analysis and JLL Market Report

We provided a 24 month, £16 million senior financing facility to Ankor Property, for the development of two Grade-A London schemes, in Ealing and Greenwich, available to students for the start of the 2017/18 academic year.

In Ealing, the scheme comprises of 124 bed spaces, arranged over four floors, in a combination of self-contained studio and twin bedrooms. Just a short walk from the University of West London and well–served by Ealing’s excellent tube and train links, the scheme has been designed to a high specification and will be operated by Homes for Students, one of the UK’s most established operators. 

The Greenwich scheme comprises 33 self-contained and fully-furnished en-suite studio apartments, completed to a high specification including integrated kitchen, high speed internet and wall-mounted flat screen smart televisions. Situated on Denham Street, the property benefits from its close proximity to Greenwich Docklands Light Railway and North Greenwich Tube, which provide fast access to several central London University campuses.

Nori Touati, Manging Director at Ankor Property, said:

“Greenwich and Ealing represent our first two completed student accommodation developments, and we are excited to be delivering them in time for the start of the 2017/18 academic year, with the support of the Octopus team throughout the process invaluable in helping us achieve this.

We have a number of other projects in the pipeline at various stages of the development process as we focus on becoming one of UK’s most forward thinking and highly trusted property developer.”

According to recent data(1), London has 376,000 students, of which 278,000 are full time. This equates to 4.19 students per purpose built bedspace with 82,000 students in the target market without access to PBSA.

1) Source: London Student Market Analysis and JLL Market Report

Related articles

Our new partnership with Homes England, Greener Homes Alliance
News
21 Oct 2021

Our new partnership with Homes England, Greener Homes Alliance

Octopus Real Estate have partnered with Homes England, the Government’s housing delivery agency, to create the Greener Homes Alliance. The new Alliance commits £175 million, providing both loan finance and expert support to SME housebuilders, enabling them to build more high quality, energy efficient homes throughout England.
Ground-breaking Ceremony at Brendoncare St Giles View
News
1 Jul 2021

Ground-breaking Ceremony at Brendoncare St Giles View

Benjamin Davis & Michael Toft from the Octopus team recently attended the ground-breaking ceremony to mark the new care home construction of Bredoncare St Giles View in Winchester. It has been custom designed by our healthcare development team for The Brendoncare Foundation who will lease and operate the new home.
Share