The Generation joint venture with the Carlyle Group has today contracted with City University in respect of a 1.5 acre site off Goswell Road comprising the former Sadlers Sports Centre, Finsbury & Heyworth Halls and Peartree Court.
The transaction is the outcome of more than 12 months work since City University and their advisors, King Sturge selected Generation as preferred bidder following a competitive selection process.
City University recognised that Generation has particular expertise in delivering large scale projects of this nature in Central London. The deal achieves City University’s objective to provide their students with new high quality accommodation adjacent to their Northampton Square campus whist the project will also deliver a new sports facility that has been designed to Sport England standards and circa 20,000 square feet of new teaching accommodation.
The planning application for the scheme is to be submitted in the next few days.
Alan Artus Director of Generation Estates said “We are delighted to contract with City University and we look forward to working with them to deliver this excellent project”