Gas Lane PBSA forward sold to Hines

Watkin Jones announces it has exchanged contracts with Hines for the forward fund of the Gas Lane purpose-built student accommodation (PBSA) scheme in Bristol.

The Gas Lane PBSA development in Bristol | Watkin Jones | Hines | PBSA News
The Gas Lane PBSA development in Bristol.

Developer and manager Watkin Jones has exchanged contracts for the forward fund of the Gas Lane PBSA development in Bristol to global real estate investment, development and property manager Hines, who are acquiring the development on behalf of the Hines European Property Partners Fund (‘HEPP’). The agreed sale represents Watkin Jones’ first transaction with Hines.

Forming part of the Bristol Temple Quarter, one of the UK’s largest urban regeneration zones, the Gas Lane PBSA scheme will deliver 260 beds in a mix of 219 en-suite cluster bedrooms and 41 self-contained studios.

Residents will also be able to enjoy a communal lounge and further amenities including a landscaped roof terrace, and they will have access to 84 bicycle parking spaces.

The development is expected to complete in time for the start of the 2025/26 academic year and will provide much needed student housing in Bristol.

“We are delighted to be working with Hines on this exciting opportunity. Bristol continues to be one of the UK’s leading PBSA markets with two highly performing institutions. This scheme will play a key part in helping to address the ongoing shortage in student accommodation, and I’m pleased that Watkin Jones is bringing forward much needed modern PBSA, offering strong ESG credentials to this vibrant student city.”

George Dyer, Group Investment Director, Watkin Jones
Corner view of the Gas Lane student accommodation scheme | PBSA News
Corner view of the Gas Lane student accommodation scheme.

The scheme will be targeting BREEAM Excellent, alongside WiredScore Silver. Biodiverse roof areas, integrated bird and bat boxes, and wildlife friendly landscaped areas and planting will also feature throughout the development. At least 80% of non-hazardous and demolition waste generated throughout the construction lifecycle will also be re-used or recycled.

The Gas Lane site is located adjacent to the University of Bristol’s new Temple Quarter Enterprise Campus. The main Bristol train station, Temple Meads, is under half a mile away, and offers transport links to London Paddington and Oxford in around 90 minutes and to Bath in 10 minutes. Bristol Temple Meads also provides transport to other areas of the city.

Castle Park, Cabot Circus and The Galleries Shopping Centre are a ten-minute walk away from the scheme and provides a large range of shops, restaurants, bars, pubs, gyms and green spaces. Harbourside is a vibrant neighbourhood centred around the Bristol Feeder Canal and is also located close to the development.