Generation’s joint venture with pan-European real estate investment manager, Europa Capital, announces a forward funding a new 197-bed purpose built student accommodation (“PBSA”) development in Canterbury for £19.6 million.
Alma Court, Canterbury is already under construction and will offer 156 en-suite study rooms with 41 studios, as well as communal areas for study and recreation. It will be completed in time for the 2020/21 academic year. Canterbury has a total of 25,930 full time students placing it in the top 20 regional student populations in the UK. Home to a UNESCO World Heritage Site, Canterbury has strict planning policies and has a tight supply of PBSA with only 9,800 PBSA beds. The property is well located for the University of Kent whilst also being close to Canterbury Christchurch University and the University of the Creative Arts.
Nick Kinder head of acquisitions at Generation and Partner of Europa Generation said; ” The opportunity to follow the Montreal acquisition and funding in a City of Canterbury’s quality was attractive to the Fund. Delivering the Montreal assets which combined the collective expertise of both WJ and Generation was a good experience and they are all very popular with students – I am sure we will achieve a similar result in Canterbury”.