Landmark 397-bed site at Grove Crescent Road significantly increases student accommodation in East London
Highlights:
- Grove Crescent Road will introduce 397 much-needed student units to Stratford, East London
- Across three blocks, there will be 241 cluster apartments and 156 studio apartments, as well as 2,000 sqm of commercial space
- Watkin Jones will deliver the project through a joint venture with Housing Growth Partnership (‘HGP’)
- The scheme is ideally located for students studying at some of London’s leading universities
Watkin Jones, the UK's leading developer and manager of residential for rent, is pleased to announce it has recently topped out on a 397-bed Purpose Built Student Accommodation (‘PBSA’) development at Grove Crescent Road in Stratford, East London.
Funded through a joint venture with Housing Growth Partnership (‘HGP’), the Lloyds Banking Group and Homes England-backed equity investor focused on the UK Living sector, Grove Crescent Road will offer 241 en suite cluster bedrooms and 156 self-contained studio apartments across three blocks. Residents will be able to enjoy numerous amenities across the three blocks including landscaped roof terraces, a gym, group study spaces, a games lounge, a tea point & social area, dedicated podcast and social media rooms, a karaoke room, a media room and private dining facilities.
The scheme is ideally located for students studying at some of London’s leading universities, with easy access to UCL East, London College of Fashion, Birkbeck, and the University of East London’s Stratford campus. Stratford Station offers excellent transport links to central London and the East of England, while Westfield Stratford City provides visitors with a wide range of shops, bars & restaurants, and entertainment. The development will also include 2,000 sqm of commercial space, adding to the area’s dynamic student-friendly environment.
Watkin Jones is committed to sustainability, with the Grove Crescent Road development targeting a minimum BREEAM “Excellent” rating. This high standard ensures enhanced energy efficiency and reduces reliance on fossil fuels, supporting a more sustainable future. The development will feature an all-electric heating system, eliminating gas usage entirely, alongside an engineered facade with reduced air permeability to minimise heat loss. Designed to meet the latest building regulations, it will be optimally insulated and incredibly efficient. Sustainable transport is key, with cycle spaces provided for residents and visitors, with on-site parking limited to DDA use only.
Gwyn Pritchard, Managing Director – Construction, Watkin Jones, said: “This event marks a significant milestone for Watkin Jones and our partners. We are delivering high-quality, sustainable student accommodation in Stratford, a place where more units are desperately needed. This development reflects our commitment to excellence, with sustainability placed at the core of its design.
“Stratford is a thriving area for students, and we’re proud to be creating a modern, well-connected residence that will enhance their university experience and enrich the local area.”
Colin Bennett, Investment Director at HGP commented: “We are delighted to be partnering with Watkin Jones to deliver this landmark scheme. The topping out represents another key milestone for the scheme and our partnership as we progress towards successful completion and providing students with much-needed high quality accommodation in Stratford.”
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Media enquiries:
MHP Group (Watkin Jones)
Reg Hoare, Rachel Farrington, Charles Hirst
Email: watkinjones@MHPGroup.com
Tel: +44 (0)20 3128 8100
Notes to Editors
Watkin Jones is the UK's leading developer and manager of residential for rent, with a focus on the build to rent, student accommodation and affordable housing sectors The Group has strong relationships with institutional investors, and a reputation for successful, on-time-delivery of high-quality developments. Since 1999, Watkin Jones has delivered over 49,000 student beds across 147 sites, making it a key player and leader in the UK purpose-built student accommodation market, and is increasingly expanding its operations into the build to rent sector. In addition, Fresh, the Group's specialist accommodation management business, manages over 19,000 student beds and build to rent apartments on behalf of its institutional clients. Watkin Jones has also been responsible for over 50 residential developments, ranging from starter homes to executive housing and apartments.
The Group's competitive advantage lies in its experienced management team and capital-light business model, which enables it to offer an end-to-end solution for investors, delivered entirely in-house with minimal reliance on third parties, across the entire life cycle of an asset.
Watkin Jones was admitted to trading on AIM in March 2016 with the ticker WJG.L. For additional information please visit www.watkinjonesplc.com.
About Housing Growth Partnership
Housing Growth Partnership (HGP) is an equity investor in the UK Living sector. HGP was established in 2015 as a joint venture between Lloyds Banking Group and Homes England.
HGP has currently invested more than £472m of equity in a range of residential developments across the UK, working in partnership with property developers and other financial and real estate organisations to accelerate housing delivery.
HGP investments have committed to deliver over 12,300 new homes (with GDV in excess of £3.8bn) across Build to Rent, PBSA, open market, retirement living and regeneration schemes.
Equity funding is a nascent funding model, but regarded as increasingly fundamental to unlocking UK housing delivery. Against the most restrictive financing backdrop since 2008, equity funders like HGP are enabling property developers who would find it difficult to get on site to bring forward new schemes, thus playing an important role in the regeneration of communities across the UK.
Find out more here: https://www.housinggrowth.com/