Malaysia’s leading engineering and property group, Gamuda Berhad, together with Singapore-headquartered real estate private equity firm Q Investment Partners (QIP), has announced the expansion of its student accommodation development in Woolwich, London, with the addition of Phase 2.
This latest agreement marks a significant milestone in the strategic partnership between Gamuda and QIP, building on the successful momentum of Phase 1, which recently celebrated its topping out. The expanded development reflects the partners’ continued confidence in the long-term fundamentals of the UK’s purpose-built student accommodation (PBSA) market, following their inaugural collaboration on Phase 1, Gamuda’s first UK student housing project and QIP’s first scheme in London.
Phase 2, with a gross development value of c.£41.5 million, will add 120 student beds, bringing the total to 419 beds across both phases, and a combined GDV of c.£144.5 million. The phase 2 site was acquired from Hurlington Capital and is scheduled for completion in Q4 2026.
Chu Wai Lune, CEO of Gamuda Land, said: “We’re pleased to deepen our collaboration with QIP on this next phase of our Woolwich development. The success of Phase 1 reinforces our confidence in the UK student housing sector and in our ability to create high-quality, sustainable living spaces that resonate with global student needs.”
“At Gamuda, we view the UK as a strategic market and are steadily growing our presence through carefully selected partnerships and opportunities. This expansion reflects our commitment to scaling our PBSA footprint across key academic cities, bringing the same level of design quality and community focus that define our developments globally.”
The Phase 1 topping out ceremony, held earlier this month, marked the structural completion of the initial 299-bed development and was attended by co-developers Hurlington Capital, along with other key stakeholders including CField Construction, and Alpha Real Estate Finance.
Peter Young, CEO and Co-Founder of Q Investment Partners, added: “This Phase 2 agreement underscores the strength of our joint venture with Gamuda and our shared ambition for delivering institutional-quality student accommodation that meets the evolving needs of students while creating long-term value for our investors and communities.”
“The Woolwich schemes play a key role in QIP’s portfolio & represents our flagship PBSA development in London, reflecting our long-term commitment to the UK market. Led by our UK-based QIP Development Group (QIPDG), under the leadership of James Coppack, this project also highlights the importance of our development expertise & execution within QIP’s vertically integrated real estate platform. We were among the first to recognise the area’s potential, and we’re proud to see this development progress with strong momentum.”
“The UK PBSA sector continues to present compelling opportunities, and we remain committed to delivering long-term value through well-located, thoughtfully designed assets.”
Strategic Urban Location with Excellent Connectivity
Located on Beresford Street within the Royal Arsenal regeneration masterplan, the development forms part of the multi-billion-pound transformation of the area and enjoys direct access to central London via the Elizabeth Line. The location ensures commute times of under 35 minutes to eight major universities including the University of Greenwich (24 minutes), King’s College London (35 minutes), and LSE (35 minutes).
Designed with student well-being in mind, the final development will offer a full suite of amenities including private study areas, fitness facilities, yoga rooms, games rooms, bicycle storage, and a community hub with commercial space at ground level.
Sustainability and affordability are core to the project’s vision, with Phase 1 targeting BREEAM Excellent and EPC A ratings, and 35% of units designated as affordable student accommodation.
Confidence in a Growing Sector
The announcement comes amid continued investor interest in the UK PBSA market, driven by:
- Persistent undersupply of student beds in key university towns and cities
- Strong international student growth, with over 679,000 enrolments in 2022/23
- Record investment volumes, with £7.9 billion transacted in 2023
Gamuda is actively expanding its PBSA portfolio to develop approximately 3,000 beds in the UK by 2029, with a particular focus on Russell Group university cities where demand consistently outpaces supply.
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