Student Developments Driving Out Coventry's Businesses
20th Jul 2018
Greystar has acquired a site in East Acton, which will be developed into a 306-bed student accommodation block.
Construction partner Tide Construction has already started work on the site with forward funding provided by Greystar.
The site was formally home to the Savoy Cinema but was unoccupied for nearly two decades.
The development is 500 metres from East Acton underground station and five minutes away from Imperial College London's White City campus.
The purpose-built student accommodation will come equipped with a gym, quite study space, cinema room, games room, communal study, and residents lounge and will be managed by Greystar's Chapter brand.
Commenting on the development, Troy Tomasik, managing director of investments at Greystar, said: "This is a strategic acquisition to extend the Chapter brand to an underserved market in west London.
"We have identified a significant demand in this corner of the capital for high quality student accommodation at a range of price points. Chapter is uniquely positioned to deliver on both fronts."
The construction of the accommodation is anticipated to take approximately 18 months, with the site scheduled to open in time for the 2018/19 academic year.
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