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Delivering new affordable residences in London
In 2013, we created a bespoke 50-year partnership with the University of London to redevelop its intercollegiate halls of residence in Bloomsbury, central London – one of the largest in the city.
Through the £141 million investment in Garden Halls we have ensured the continued provision of high-quality and affordable accommodation in the capital.
The transaction was one of the one of the largest developments completed in central London, demonstrating the financial community’s confidence in our unique partnership model, the University of London and the wider higher education sector.
Investment included £113.8 million of bond debt funding from Pension Insurance Corporation and £26.9 million of sub-debt and equity provided by UPP.
Our team led the funding, planning, design and development of the 1,200-bed residence, redeveloped to include communal, flexible learning and conference spaces, catering areas and external courtyards.
We worked with leading architects to create a beautiful, practical and flexible space, offering a range of high-quality accommodation to suit different budgets and appointed a top-tier construction company to redevelop the residences.
97.3% of all construction waste was diverted from landfill, all timber was procured from renewable sources and the building secured a BREEAM ‘Excellent’ rating.
Our operational team now provides a full facilities management service.