Urbium Capital, a London-based real estate private equity firm, has announced the successful first close of its Urbium Living Fund I, a UK residential real estate strategy focused on delivering high-quality purpose-built student accommodation (PBSA) and senior living assets.
Urbium Living Fund I is a UK residential strategy targeting both student and senior living opportunities in London and select regional markets. This inaugural close will fund the development of a prime student housing scheme in York, marking the fund’s first project.
Located at 15 Foss Islands Road, the project will be developed in partnership with Gregory Property Group, with GMI as the general contractor.
“We are thrilled to achieve the first close of Urbium Living Fund I, a pivotal moment that reflects the strength of our vision and the confidence of our investors. Our strategy is focused on addressing critical housing needs in both the student and senior living sectors, which are challenged by high barriers to entry.
“This first project in York represents an important step in delivering on that vision, and we are excited to continue building a portfolio that delivers exceptional housing while creating long-term value for our investors.
“York, with its strong academic institutions and growing student population, aligns perfectly with our strategy of investing in prime university cities. This project underscores our ongoing commitment to expanding our PBSA portfolio across the UK.”
Suliman Aujan, Founder & CEO, Urbium Capital
The scheme will deliver 131 premium studios and two one-bedroom apartments, alongside amenity areas such as co-working spaces, a fitness centre, and social areas aimed at enhancing the student living experience.
The development will not only provide high-quality living spaces, but will also aim to set new standards for sustainability and student wellbeing.
Construction on site is expected to begin in Q4 2024, with completion targeted for the start of the 2026/27 academic year.
“We are delighted to make a start on this exciting scheme close to the two York Universities. It has taken us two years to get to this stage and have been supported by a strong team of professionals who will help deliver this high-quality accommodation building which is ideally located for students. The site has been redundant for a while and our scheme will provide a big improvement to the street scene and bring vibrancy to the area”.
John McGhee, Managing Director, Gregory Property Group
This latest investment reinforces Urbium Capital’s position as an emerging player in the UK residential market. The company remains committed to delivering both long-term investment value for its partners and positive contributions to community wellbeing and environmental sustainability.
This news follows Urbium Capital practically completing and opening its Arcadian scheme in Nottingham last month. Located opposite the Victora Centre in the lively core of Nottingham’s city centre, Arcadian offers 293 high-quality living spaces in a mix of studios and ensuite rooms.
