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The real estate investor and developer HB Reavis is expanding its business activities to the student housing segment, specifically Purpose-Built Student Accommodation (PBSA). The company has now received planning permission for a corresponding project in London at 10 Leake Street. To date, HB Reavis has been primarily active in high-quality office and retail properties. With the new asset class, HB Reavis is continuing to diversify its pan-European portfolio.
Václav Matoušek, CEO of HB Reavis Germany: "Student housing is an exciting asset class. In Europe's major cities, the need for efficient housing for students continues to rise fundamentally. We also see considerable potential for professionally developed and managed student housing concepts in Germany."
The project, which is located in the immediate vicinity of London Waterloo station, envisages the conversion of an existing building into a modern student housing complex with 233 apartments. Studio apartments and shared flats as well as communal areas, including learning and recreation areas, a roof terrace, fitness facilities and energy-efficient building technology are planned. The central location only 50 metres from London Waterloo Station and the direct proximity to renowned universities underline the quality of the location and speak for a long-term stable demand for student housing.
