Generation’s involvement with 60 Commercial Road pre-dated our joint venture with Carlyle as we provided consultancy advice on student accommodation scheme design and viability for the previous owner Derwent London.
This resulted in a planning consent being obtained in 2011 for a new nineteen storey student building and a separate office building of 26,500 sq. ft on Back Church designed by Architects Buckley Grey Yeoman.
The Generation / Carlyle joint venture subsequently acquired the two sites from Derwent London with vacant possession in March 2013 and set about delivering both the student and office schemes as use of the student building was linked to delivery of the office building through a planning condition.
A building contract was placed with Wates Construction Ltd with a completion date in time for start of the 2015/2016 academic year. The office building was successfully forward sold to Boultbee Brooks Real Estate in late 2014.
The project was still under construction when the Pure Student Living platform was acquired by Letter One in March 2015 but was subsequently completed on time.
Real Estate Living Specialists