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Student Housing Funding Deal Secured by Dominvs

Posted by Calum Martin in ,

Image courtesy of Flickr, Creative Commons

A large forward funding deal with Scape has been secured by Dominvs Group for a 713-bed student accommodation scheme in Hammersmith, West London.

The deal, worth £173.25m, is the largest of its kind in the UK.

Originally the site had benefitted from planning consent for the construction of two hotels however, this has since been reworked by Dominvs to include the student beds in the plans.

A 400 room hotel will also be constructed for Premier Inn as part of the development, taking the gross development value of the project to £270m.

Designed by architect Rogers Stirk Harbour, the scheme will deliver student housing close to the campus of Imperial College London on Tailgarth Road.

Preet Ahluwalia, Principal at Dominvs Group, commented: "It's a privilege to have worked alongside Imperial, Hammersmith and Fulham Council and the local community who collaborated with us to find real solutions which helped unlock this site and, above all else, worked for local people.

"The result is a milestone deal for the market with the creation of institutional-grade student housing alongside a new Premier Inn, underpinning our ability to create value across multiple asset classes."

Founder and global CDO of Scape, Adam Brockley, also added: "Dominvs have secured a fantastic consent and we look forward to working with them on this and other projects in the future."