Investec provides £47m for student accommodation in east London

 
Helen Cahill
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There will be beds for over 500 students in the building (Source: Investec)

Investec has put forward £47.6m of funding towards a student accommodation scheme in east London.

The scheme, on Blackhorse Road, will provide space for 527 students. Investec is providing 24 months of funding to Curlew Student Trust.

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The money will fund the building of the project, set to be completed in July this year, and will also be used as an investment in the building - which will be called Mannequin House - for an 18-month period following its construction.

Curlew Student Trust is forward-funding the scheme with Watkin Jones acting as the main contractor for the development.

The investment brings Investec's total investment into student accommodation to £350m over the last three years.

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Mark Bladon at Investec Structured Property Finance said: "The student accommodation sector remains one of the most attractive asset classes for investors, as the UK faces an ongoing supply demand imbalance in certain sub-markets.

"London, in particular, where we are building a track record of providing bespoke debt facilities for leading developers, on competitive terms, will continue to see a requirement for brand-new purpose built space, as the global leader in the provision of quality higher-education."

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