The University of Sussex agrees £123m of funding from Abrdn for new PBSA site

Abrdn has invested £123 million in West Slope Residencies Finance, a collaboration between the University of Sussex and Balfour Beatty Investments.

The project involves constructing 1,900 student accommodation units in Falmer, north of Brighton, over three phases.

The development includes en-suite cluster flats, townhouses, family apartments, and amenities such as a health & wellbeing centre, medical and dental practice, supermarket, and cafe.

The University of Sussex, currently with 14,000 students requiring housing, anticipates an increase to 17,000 by the expected completion of the West Slope development in April 2028.

"We're delighted to continue to support the University of Sussex's growth plans, this being the second project we have invested in, offering long-term, inflation-linked returns to our investors.

"This kind of investment is crucial, given the structural undersupply of quality student housing in the UK. The project's ambition to achieve a BREEAM 'Excellent' accreditation underpins our commitment at Abrdn to provide sustainable real estate solutions."

Matt Hamilton-Glover, Abrdn investment manager

"We're delighted to expand our portfolio in the student accommodation sector via our investment at the University of Sussex.

"In the UK, the need for more quality, affordable university student accommodation couldn't be greater, and this investment provides long-term stable cash flows to match our annuity liabilities, while also supporting the sector."

Manuel Dusina, Phoenix head of infrastructure