Curlew Capital

Curlew Capital commits £60m for south east London PBSA development



Curlew Capital has completed a circa £60m forward funding agreement with CKC Properties for a 185-room PBSA development in Bermondsey, south east London.

Located on Spa Road, overlooking Bermondsey Spa Gardens, the scheme will deliver 185 studio rooms across five floors.

The development will also offer amenity space, including a study room, gym, cinema, roof lounge, and additional social space.

It will be built to BREEAM Excellent standard and will also provide landscaped outdoor space for its residents across two private gardens and a roof terrace overlooking the square.

Planning for the scheme was granted in March this year.

The development is expected to complete for the start of the 2022/23 academic year.

The site was purchased by Curlew Student Trust 2, a fund managed by Curlew that is a programmatic JV with clients of CBRE Global Investment Partners.

This represent Curlew’s first collaboration with CKC — an established PBSA developer with a pipeline of over 750 beds across major university cities.

Charlie Oliver, head of acquisitions at Curlew Capital, commented: “We are pleased to have entered into an agreement to fund CKC, alongside our institutional partner, CBRE GIP, who will deliver a high-quality scheme with excellent sustainability credentials and amenity provision. 

“It further enhances our portfolio, adding a second London asset for the CST2 fund, in a geography which we believe will continue to outperform, underpinned by the dense concentration of world-class higher education institutions.”

Geoff Thomas, managing director at CKC, said he was looking forward to looking with Curlew on this project. 

“It’s great to be partnering with Curlew to deliver much needed student accommodation for the London catchment. 

“Despite the challenging Covid-19 constraints, the respective teams were able to conclude the agreement rapidly.”

Curlew has, to date, committed over £1bn to the PBSA sector, representing more than 11,000 beds across 34 schemes in 22 major university markets.


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