Watkin Jones and Maslow Capital have acquired a Bristol site to develop into a 484-bed purpose-built student accommodation (PBSA) scheme.
Located on Malago Road, the site is 100 meters from Bedminster train station and 11 minutes’ walk from the University of Bristol’s new Temple Quarter Campus.
The accommodation comprises of studio bedrooms and 40 non-ensuite rooms across three blocks.
The specialist living developer is targeting ratings of BREEAM Excellent, EPC B and WiredScore Silver.
The £101.7m GDV scheme will be the second asset developed as part of the joint venture, following their earlier collaboration on The Ard in Glasgow.
Watkin Jones is also developing other PBSA schemes within the city, including a 322-bed scheme and a 204-bed scheme for Moorfield Group.
George Dyer, group investment director at Watkin Jones, said: “This transaction with Maslow Capital, our second collaboration together, demonstrates the strength of our proposition and the quality of our PBSA offering across the UK.
“Bristol has firmly established itself as a destination of choice for students, and we’re delighted to deliver a sustainable, high-quality scheme, supporting the City and University’s growing student population.”
Sky Mapson, senior director, origination at Maslow Capital, added: “We are pleased to support Watkin Jones on a second large-scale PBSA transaction through our joint venture, following The Ard in Glasgow.
“Their proven record in delivering high-quality student accommodation gives us conviction in the sponsor and the successful delivery of this Bristol asset.”
Rachael Gordon, head of deal execution (UK & Europe) at Maslow Capital, also added: “Bristol remains one of the UK’s most undersupplied student markets, with demand for purpose-built accommodation continuing to outstrip available stock.
“This 484-bed scheme is close to the University of Bristol’s new Temple Quarter campus and Bedminster station. Its scale, specification and location leave it well positioned to capture that demand and deliver resilient long-term income.”
Image: Watkin Jones
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