21 May 2016 – by Amber Rolt
Student housing developer Fusion Students has set itself a target of building a £1bn student housing portfolio over the next 10 years.
Fusion, set up in 2009 by Warren Rosenberg, already has 1,050 beds across three schemes in Bristol, Cardiff and Newcastle due to open this year, but plans extend its portfolio to 10,000 beds by 2026.
Once it has reached scale, it will be one of the largest privately owned student housing developers in the UK.
The firm is targeting major UK university towns and cities, including Edinburgh, Bristol, Cardiff, Exeter, Liverpool, Leeds, Sheffield and London.
It will consider both city centre, greenfield and brownfield sites for its schemes, which range between 300 and 1,000 beds.
The group has recently hired Sam Ball from Knight Frank as head of acquisitions to drive its expansion programme.
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Recent deals include two sites in Cardiff. It will open a 686-bed property at Windsor House in 2017 and has bought a further site for a 600-bed scheme in the city’s Capital Quarter.
The group said it would add 2,000 rooms to its portfolio by 2018.
Fusion is focused on providing a lifestyle brand for students and dedicates an average of 10,000 sq ft to amenities such as cinemas, games rooms and bars.
James Pullan, head of student property at Knight Frank, said: “Fusion recognises that the direction of the market is now to deliver student accommodation that is driven by lifestyle, rather than by a financial model.”
The company privately owns all of its properties, which it operates in a joint venture with management company Collegiate.
