A consortium of investors is set to pay £150 million for a student housing block in Shoreditch, the Evening Standard can reveal.
Chapter — a venture between Canadian pension fund PSP, US developer Greystar and Germany’s Allianz Real Estate — is in advanced talks to buy a 482-bed property at Paul Street East from Apache Capital Partners.
The accommodation was put up for sale in October. Renters using it pay from £305 per week for a studio, and one-bedroom luxury apartments cost from £485 per week.
Property sources said Chapter’s swoop for the asset shows “confidence” in London remaining a top academic city after Brexit.
Some experts had worried that leaving the EU could hit occupancy levels in student digs. There have been concerns that Brexit could impact funding for research and exchange programmes, which may result in fewer high-spending foreign pupils coming here.
MTRE, the property consultancy, is advising the vendor.
All parties declined to comment.
