The Student Property team of property consultancy Knight Frank has been instructed by Receivers to sell William Road, a consented PBSA site located in the Euston area of central London. Knight Frank is offering the purchase of 17-33 William Road and the freehold title of 35-37 William Road, by way of part property and part company share sale.
The two sites at have full planning permission for a PBSA development. The site is designed to provide 14-storeys of premium student accommodation with 360-degree views of London from the top floor.
“London has a serious shortage of purpose-built student housing despite its large student population. With over 60 universities and over 340,000 full-time students, of which 41% are international, the capital is unable to meet demand. Indeed, Knight Frank’s research shows 70% of students can’t access quality PBSA. Given strong interest from diverse investors, a new PBSA development, such as the one proposed for William Road, would be hugely welcomed in London by students searching for accommodation that aligns with contemporary needs and preferences.”Rupert Strutt, a Partner in the Student Property team, Knight Frank
The William Road scheme will include 206 student beds including 102 self-contained studio bedrooms and 104 two-bedroom apartments or ‘twodios’. There will also be 6,000 sq ft of residential amenity space containing a fitness room, studio lounge and cinema. Consent has also been granted for 11,000 sq ft of affordable office space on the ground floor.
Located within Euston’s regeneration area between Euston and Warren Street tube stations, William Road is conveniently situated for easy access to many of London’s key universities – including The University College London, Birkbeck, University of Westminster, SOAS and Regent’s University, all within a 20-minute walk of the site.