Derwent Living signs £17 million deal to build student apartments in London
Housing provider Derwent Living has announced its first push into London’s expanding student market – sealing a £17 million deal to build 136 studio flats near the capital’s City University.
The Derby-based provider has purchased land in Wakley Street opposite the university and work has already started on site – with completion ready for students in September 2010. The new scheme will be called Derwent Point.
Derwent Living commercial director Paul Wisher said: “Our development of Derwent Point builds on our success as a student accommodation provider. The gross asset value of the scheme, which is our first development in the capital, is around £26 million.” …