UK-based alternative real estate investment business Curlew Capital has has received planning approval for a 282-room purpose built student accommodation (PBSA) development in Stratford, East London.
Curlew’s development arm, Curlew Opportunities, who led the planning application, will be responsible for construction of the c £60million scheme, which will begin later this year subject to the signing of a Section 106 agreement and is expected to complete for the start of the 2023/24 academic year.
The project will see the demolition of Poland House, an existing 100-bed student property acquired by Curlew in 2019, to deliver a 282 cluster bed scheme with a high level of amenity, support and community space.
Located on Stratford High Street, in close proximity to Westfield Shopping Centre and the Olympic Park, the site benefits from excellent connectivity via the nearby Stratford International and Stratford High Street stations, as well as the significant regeneration and investment in and around the Olympic Park.
Curlew is targeting a BREEAM ‘Outstanding’ rating for the building, which will make it one of only a handful of PBSA developments in the UK to achieve this, with features including carbon-reducing technology. The development’s ESG credentials will be further demonstrated by the inclusion of 160 sqm of community space for use by local charities, start-ups and community programmes. Curlew is also in discussions to ensure local jobs and apprenticeships are secured through the construction phase alongside opportunities to partner with/support local stakeholders, including schools.
Jim Sutherland, Head of Development at Curlew Capital, commented: “This is an exciting redevelopment project in a thriving part of London and we are excited that our vision for the scheme is shared by other local stakeholders. Stratford has undergone a significant transformation and we look forward to delivering a high-quality asset that meets the demands of modern students, including impressive ESG credentials.
“Despite the challenges faced by the PBSA sector over the past 12 months, it has proved itself to be remarkably resilient versus other use classes. With the longer-term fundamentals highly compelling, we look forward to bringing forward our significant development pipeline, to meet what we believe will be growing demand from both domestic and overseas students.”