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Greystar Acquires London Student Accommodation Site

Posted by Richard Ward in

Image courtesy of Flickr, Creative Commons

Purchased for an undisclosed fee, Greystar has acquired Capital House in London Bridge from a private investor.

Situated on the corner of Weston Street and St Thomas Street, it sits adjacent to Guy's Hospital and is less than 200 metres from the Shard.

The site currently has two planning consents, one for student accommodation and one for residential apartments in a new 31-storey tower.

Dubbed 'The Quill', the planning consent for student accommodation consists of 470-beds, whilst the other is for 119 luxury residential apartments. It's understood the developer is pursing the provision of student accommodation on the site, which will be incorporated under its Chapter brand.

The company already operates 4,456 student beds across eight sites in London, including Aldgate, Islington and King's Cross.

Commenting on the acquisition, Troy Tomasik, Managing Director for Greystar, said: "We are delighted to have acquired this incredible site in one of the best-connected parts of London. We're very excited this will be our first development project in Southwark, in addition to our existing Southwark asset at Southbank.

"Chapter has established a reputation for world-class service and exceptional, high quality accommodation, with families around the world trusting us to provide their children with a safe and secure home as they study in this fabulous city.

"Southwark, with its world-class universities and institutions of higher education, is the ideal location for Greystar. We look forward to continuing to solve London's shortage of good quality student accommodation and exploring options for the site over the coming months."