Cubex and Alara acquire Bristol PBSA site

Cubex and Alara acquire a site in central Bristol to deliver a new purpose-built student accommodation (PBSA) development.

Cubex and Alara secure site | PBSA News
Cubex and Alara secure site | PBSA News

Cubex and joint venture partner, Alara Investments, announced their first unconditional acquisition as a partnership of a brownfield site located in the Temple Quarter Enterprise zone in central Bristol. The scheme will deliver 550 bedrooms if planning is granted.

The site is located less than a three-minute walk from the University of Bristol’s new Temple Quarter Enterprise Campus. The large-scale development is due to open to 4,500 new students in 2026.

The scheme will have a Gross Development Value (GDV) in excess of £100m.

The business plan is to develop a 550-bedroom PBSA scheme, with market-leading levels of private amenities and generous public spaces. More than 65% of the site will be located in the public realm.

The scheme will focus on delivering market leading sustainability credentials. As well as targeting BREEAM Outstanding, EPC A and a Wired Score Platinum.

Cubex are in consultation with Bristol City Council as well as other stakeholders and will be submitting detailed planning proposals.

This scheme will be Cubex’s first venture into this area and forms part of their strategy into the wider Living sector. This covers Build to Rent, PBSA and Co-living in key UK cities.

“PBSA has been on our radar for some time, specifically in Bristol where demand from students continues to soar vs a backdrop of limited high-quality supply. We are big believers in the micro-location and proximity to the new UoB campus, which really is a game changer for this part of Bristol. As always, we are working very closely with Bristol City Council to deliver the overall best scheme for the city”.

Joe Downey, Managing Director of Cubex

Low carbon materials

The PBSA scheme is being designed using low-carbon materials and will be heated via the UK’s largest water source heat pump.

Cubex stated they were pleased to launch in Bristol, which has a severe shortage of student beds.

“This marks an exciting transition for Alara into the PBSA space. We have found a great partner in Cubex who have been excellent to work with. The scheme will deliver a best in class, sustainable development for the benefit of Bristol students. We are continuing to explore other opportunities as Property becomes a core focus for our business”.

Jonathan McLaren of Alara

This month (June) Host struck a forward funding deal – also for a PBSA scheme in Bristol. Construction has started on site with GMI Construction Group acting as the main contractor. It is scheduled to be completed in time for the start of the 2026/7 academic year.