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Financial Close for New Student Accommodation Development in Canning Town

Financial Close for New Student Accommodation Development in Canning Town

Linkcity, the development arm of Bouygues UK, and Crosstree Real Estate Partners are delighted to announce the financial close and start on site of the fourth phase of the regeneration of Hallsville Quarter in Canning Town, London, forming part of the £3.7 billion Canning Town and Custom House Regeneration Programme.

Phase 4 of the Hallsville Quarter proposes a new and exciting home for students in London developed by Linkcity, with design by PRP Architects and interiors by Holloway Li.  The scheme comprises 375 purpose-built student accommodation rooms and a range of market-leading student amenity space with a roof terrace and landscaped public realm.  As with the previous phases, Bouygues UK will be the main contractor and will take a low-carbon, sustainable approach targeting BREAAM Excellent.

This project marks the penultimate phase of the £600 million Hallsville Quarter Masterplan and is expected to complete in the summer of 2026 ahead of the 2026 / 2027 academic year.  In total, the Hallsville Quarter development will provide over 1,100 private and affordable homes, over 30,000 square metres of leisure and retail space and a new hotel all located directly opposite Canning Town underground station.  The masterplan also provides new public spaces including play areas, pedestrian links, cyclist provisions and secure parking spaces.

Oliver Campbell, Development Director of Linkcity said, “This is an exciting and pivotal moment as we reach financial close on the fourth stage of the Hallsville Quarter masterplan and commence work on site. The location of this development, in the thriving new town centre in Canning Town, will provide a vibrant area for students with excellent links into the centre of London. We are delighted to commence this joint venture with Crosstree and look forward to seeing the progress on site as we reach the final stages of this landmark, residential project.”Peter Robinson, Partner at Crosstree Real Estate Partners, added, “Crosstree continue to be active investors in the student accommodation sector benefiting from attractive cyclical and secular fundamentals.  Given the market dislocation for forward funding transactions of this type, Crosstree is excited to partner with Bouygues UK, a best in class contractor/developer in taking forward a thoughtfully designed and highly specified PBSA scheme.  Canning Town is a strong student location with excellent connectivity via the Jubilee Line to major university campuses in Stratford and London Bridge with 160k+ students within a 30-minute travel time.  Together with our partners we look forward to the successful realisation of this project.”

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BDC 317 : Jun 2024