Specialist real estate lawyers at Walker Morris have advised Unite Students, the UK’s leading owner, manager and developer of student accommodation, on the acquisition of its 913 bed student accommodation development site in London.
The site is located in Middlesex Street, London E1 and the new building is planned to be completed for the 2021/22 academic year. This is a prime location in London and will provide much needed accommodation options for students.
London is home to over 300,000 students and has three of the world’s Top 25 Universities. The London student market remains significantly undersupplied with only 81,000 purpose-built beds currently in operation. Unite Students is the leading operator of purpose-built student accommodation in London with over 9,500 beds and partnerships with the leading universities covering over 5,500 beds.
Nick Cannon and Andrew Maclean, both in the Real Estate Team at Walker Morris, advised Unite Students.
Commenting on the deal Nick Cannon said:
“Unite Students is a long-standing client of the firm and so it is particularly satisfying to be able to support them on the acquisition of their latest development site in London. This transaction reinforces our experience of working with market-leading developers to provide first-class developments in strategically important locations.
“The student accommodation sector has evolved rapidly over recent years, with new developments providing a whole host of services to provide a supportive environment for students.”