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The University of London Invests £150m in New Accommodation

Posted by Richard Ward in , ,

Image courtesy of Flickr, Creative Commons

The University of London is to build a 33-storey student accommodation block in Stratford, representing the first property acquisition by the university in half a century.

The £150 million building named Duncan House, was bought in partnership with University Partnership Programmes and will consist of 511 student bedrooms as well as communal space.

Chris Cobb, pro vice-chancellor and chief operating officer of the University of London, said: "This is an exciting and significant investment for the University. It's the first major property that we've acquired in 50 years and the first outside of central London.

"This investment continues our trajectory of offering students quality accommodation which balances affordability with low travel times to their place of study."

Mr Cobb also indicated that this latest development highlights their continued commitment to modernise and expand their property portfolio to meet the needs of future generations of students.

Sean O'Shea, group chief executive officer of UPP, added: "The University of London is a world-renowned institution and we are delighted to have reached financial close on this landmark transaction in east London.

"Located in the heart of Stratford, this exciting scheme will offer future generations of students' competitively priced accommodation and facilities of the highest quality."