Generation Estates is founded by Alan Artus and Gareth Davies following successful careers with leading developers during the 1980’s and 1990’s. Generation’s initial focus is on mixed use development opportunities in and around London.
Generation devise a mixed-use scheme for the redevelopment of 200 Pentonville Rd in Kings Cross providing 947 student accommodation units together with retail and residential accommodation.
Generation introduce Blackstone to the nascent Purpose-Built Student Accommodation market in London and secure funding to acquire and redevelop 200 Pentonville Road. The scheme design is optimised resulting in a planning consent for 846 student accommodation units together with ancillary gymnasium, café, laundry, common room and cycle store, 48 BTR units, 14 affordable housing units, 1,820 square feet of new retail and 18,969 square feet of Class D1 accommodation. The development which opens in September 2007, launches the Nido Student Living platform and brand, and redefines high quality PBSA in the United Kingdom.
Generation and Blackstone acquire 1.28-acre site near Liverpool Street Station with potential for a second sizeable mixed-use project anchored by purpose-built student accommodation. Planning consent is obtained the following year for a mixed-use development which includes 1,204 student beds, 24,031 square feet of retail accommodation and a separate grade A office building of 49,692 square feet. The student accommodation building which rises over 100 metres was completed in August 2010 and was the tallest student accommodation building in Europe when it opened as Nido Spitalfields.
Generation undertake a final project with Blackstone having obtained planning consent on a site adjacent to the Grand Union Canal. Providing accommodation for 277 students together with 6,760 square feet of B1 space, the building opens in Summer 2011.
Generation bring The Carlyle Group into the UK student housing market through a development led joint venture where Generation will originate and develop new student accommodation in London whilst also creating an in-house operational business to support the platform.
Blackstone and Generation has sold its Nido Student Accommodation assets and operational business to Round Hill Capital who syndicated the equity requirement amongst its investor base. The sale price was circa £415M. Nido was created by Blackstone and Generation after Generation led Blackstone into the UK student accommodation market. The portfolio comprises 2,521 beds across the three assets all of which are operational.
Pure Student Living, the joint venture between Generation and The Carlyle Group has completed its first development of 400 student beds at 201 Isledon Road which is adjacent to Finsbury Park Station. The colorful building provides a mixture of en-suite study bedrooms and studios all with the benefit of generous amenity areas including games and study areas, a private gym and film screening room. The building is being operated by a dedicated in-house management team.
Two well located new student residences are opened by Pure Student Living, Generation’s joint venture with The Carlyle Group. The schemes in Bankside near Tate Modern and Hammersmith add a further 568 beds to the operational platform. Pure Bankside is very well located for Kings College Students and LSE while Pure Hammersmith, on the site of the former Hammersmith Palais, provides high quality studio accommodation in west London which is perfect for students studying at Imperial College
Generation completes this mixed-use scheme that provides 805 student beds together with extensive amenity areas in two interconnecting blocks together with a Sport England specification sports centre of just over 30,000 sq. ft. and much needed additional teaching space of circa 19,000 sq. ft both for City University London. The student accommodation is operated as part of Carlyle/Generation’s Pure Student Living platform.
LetterOne purchases the Pure Student Living portfolio and operating business from The Carlyle Group and Generation. This premier purpose-built student accommodation business comprises 2,170 beds across five prime central London sites with an ideal geographical spread. Four of the assets located at Finsbury Park, Hammersmith, Bankside and City University are operational whilst the fifth facility at Whitechapel delivers the final 417 rooms when it completes in August this year. Carlyle entered the student accommodation market in 2010 after forming the joint venture with Generation and has been investing funds on behalf of its European Real Estate Fund, CEREP III.
Following sale of Pure Student Living to LetterOne in March, Generation completed the development at 60 Commercial Road in good time for the 2015/16 academic year. The building which provides 432 high quality student accommodation units will operate under the Pure Student Living brand. The project also included a new office building of 25,000 square feet at 122 Back Church Lane where Generation arranged to forward sale to Boultbee Brooks Real Estate.
Generation Estates is working with Hattington Student Housing Ltd providing purpose built student housing expertise and development management services to two projects in Dublin at 30- 36 Thomas Street, Dublin 8 and 43-53 Montpellier Hill, Dublin 7.
Generation has secured the Montreal portfolio of assets through a forward funding with Watkins Jones. The portfolio provides 1,691 beds located good locations in Bath, Oxford, Sheffield, Newcastle, Bournemouth and Aberdeen. The properties will be acquired by the Europa Generation student fund.
With practical completion of Parkgate at 43 Montpelier Hill in Dublin 7, Generation’s joint venture with Hattington Capital now has 576 operational beds in Central Dublin. The scheme provides a further 319 beds in addition to Thomas Street which opened in summer 2018. Both building are now operating under the Highlight Student Living brand which has been created to run the assets.
Real Estate Living Specialists