Hurlington Capital secures planning for south London PBSA

Hurlington Capital secures planning permission for a £150m purpose-built student accommodation (PBSA)-led scheme in Deptford, south London.

Public Realm at the new student accommodation scheme on the Apollo Business Centre site in south London | PBSA News
Public Realm at the new student accommodation scheme on the Apollo Business Centre site in south London.

Property investment and development firm focused on residential property in London and the south east – Hurlington Capital – secures planning permission for a £150m GDV PBSA scheme in Deptford, south London. 

Hurlington Capital has completed on the site alongside its funding partner Melrose Capital with support from Octopus Real Estate. Savills has been appointed to advise on potential joint venture structures.

Approved by Lewisham Council, the PBSA scheme – on the site of the Apollo Business Centre on Surrey Canal Road – will deliver 484 student beds alongside 42 affordable homes and 19,000 sq ft of creative workspace.

“Having worked so closely with the community on our plans, this will be a best-in-class scheme that reflects local need and offers positive outcomes for all partners, including the delivery of affordable homes and creative workspaces.

“Best-in-class PBSA is a compelling investment opportunity, particularly in London, because it is truly counter-cyclical. As we seek a partner that shares our vision for creating positive outcomes alongside positive returns, we’re looking forward to bringing our plans to fruition for the benefit of the existing community and those who will become a part of it.”

Harry de Lotbiniere, Managing Director, Hurlington Capital

Designed by AHMM, the project will target BREEAM Excellent and EPC A. Upon completion, the scheme will offer 42 high quality affordable homes with a mix of affordable rents and shared ownership, while the creative affordable workspace will support Deptford’s vibrant culture and arts community.

Located between the green spaces of Deptford Park and Folkestone Gardens, the site is well connected. Residents will benefit from journey times of under 30 minutes to Goldsmiths, University of Greenwich, Trinity Laban, UAL, Queen Mary, South Bank and Ravensbourne universities. 

Hurlington Capital has circa 1,600 student beds in its pipeline across four London sites – having secured planning in August 2022 on its Woolwich scheme, which it is delivering in a joint venture with Q Investment Partners – a Singapore-based private equity investor.

The company also secured planning for Marshgate Lane this year with Alumno, the student housing developer that is part of Places for People Group. A fourth scheme in London is due to receive consent shortly. 

“As the third PBSA scheme for which we’ve secured planning in less than a year, this is an important milestone as Hurlington Capital establishes itself as one of London’s leaders in alternative living classes, such as PBSA and co-living, in addition to our wider residential expertise.

“Over our 12 years of operation, we’ve undertaken roles in over 25 projects, ranging from site assembly and planning through to delivery, with our completed and current projects delivering a GDV of c. £1bn.

“As we progress our plans for our four existing PBSA sites, we’ll continue to make use of our specialist understanding of London’s boroughs to identify and unlock complex sites to deliver further schemes with a mix of uses that meet local needs.”

Jamie Feldman, CEO & Founder, Hurlington Capital