WEMBLEY is set to get more university housing, after Schroder Real Estate sold an acre plot of the north London site to student accommodation specialist Unite.
The £7.4m site, currently a car park, will be the new home of a 684-room student block and 10,000 square feet of retail space, providing Unite and its Singaporean sovereign wealth fund partner GIC with planning permission.
The firm said yesterday that the scheme in the Wembley Park regeneration area will cost £47m to build and could open as soon as 2016.
Brent Council has encouraged developers to build student housing in the Wembley area as part of the regeneration scheme.
The purchase means that Unite’s joint venture, the London Student Accommodation Venture, has made 65 per cent of its investment goal.
“As well as being a key milestone in the group’s development strategy, this site... will strongly appeal to students,” said Richard Simpson, Unite’s head of property.