Greystar has acquired this eye-catching student accommodation site in London Bridge
Global property firm Greystar is to oversee the development of one of central London’s most singular property developments after acquiring Capital House in London Bridge.
The developer has stumped up an undisclosed sum for the building which currently has two planning consents for student accommodation or luxury units in a new 31-storey tower.
Dubbed ‘The Quill’, the site includes a 470-bed student accommodation facility which the developer has said it will pursue over the plans for 119 luxury residential units at the SPAARC-designed tower, which also features some eye-catching designs on its tallest portion.
The site itself sits on the corner of Weston Street and St Thomas Street less than 200m from the Shard and had previously drawn controversy from local residents due to the lack of affordable homes as part of its residential planning application.
Greystar said it intends to incorporate the student accommodation provision at the site under its growing ‘Chapter’ brand where it operates 4,456 students beds across eight sites in the capital, including Aldgate, Islington and King’s Cross.
Troy Tomasik, Managing Director, Investment for Greystar, commented: “We are delighted to have acquired this incredible site in one of the best-connected parts of London. We’re very excited this will be our first development project in Southwark, in addition to our existing Southwark asset at Southbank.
“Chapter has established a reputation for world-class service and exceptional, high quality accommodation, with families around the world trusting us to provide their children with a safe and secure home as they study in this fabulous city.
“Southwark, with its world-class universities and institutions of higher education, is the ideal location for Greystar. We look forward to continuing to solve London’s shortage of good quality student accommodation and exploring options for the site over the coming months.”
Greystar was represented by Dovid Sharman of Kingsbridge Partners.
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