The developer has been given the green light by Lambeth Council’s Planning Applications Committee to redevelop an outdated office building at 10 Leake Street.

Designed by PLP Architecture, the plans will include a mix of studios and shared cluster flats as well as 233 student homes.

This will be designed to include a study lounge, shared dining area, rooftop terrace, wellbeing fitness studio and to embrace low-carbon and renewable energy technologies.

HB Reavis is primarily known for delivering workspaces, with this scheme representing its first move into the PBSA space.

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“Securing planning approval at 10 Leake Street marks a major milestone for HB Reavis as we establish our living portfolio in the UK,” said Ryan Jakes, head of living and commercial at HB Reavis.

“We’re targeting uses with strong long-term fundamentals and we see PBSA in central London aligned with leading universities as underpinned by consistent demand, lack of supply and a clear need for high-quality student homes.

“10 Leake Street demonstrates how we can unlock value by repurposing the best located buildings and applying our proven approach to design, delivery and ESG into new asset classes.”