Singaporean firms Q Investment Partners (QIP) and Soilbuild are looking for equity partners to join their newly created £200m (€227m) develop-to-core UK student housing venture.
The pair have already seeded the UK Purpose-Built Student Accommodation (PBSA) Build-to-Core Platform with around 50% of its intended assets and are seeking investors to take a 45% stake in the venture which could be doubled in size to £400m.
The newly launched platform’s seed assets of 650 beds comprise two development opportunities located in York and Newcastle.
Peter Young, CEO and co-founder of QIP, said the PBSA sector continues to be increasingly attractive to institutional investors.
Young said: “This partnership demonstrates our continued commitment to the sector and will see QIP leverage our existing platform scale to address the growing demand for high-quality student accommodation in the UK.
“The result is an attractive proposition for QIP, Soilbuild and strategic LPs [limited partners]: a highly resilient and well-managed income base that translates into competitive risk-adjusted returns, stability and growth.”
Singapore-headquartered QIP is a private equity real estate firm that specialises in the global residential living sector. The company invests in the UK, US and Japan, by investing in PBSA, multi-family and co-living rental buildings, build-to-rent and care homes.
Fellow property group Soilbuild develops a range of residential properties from high-end luxury condominiums to landed and conservation houses.
Lim Han Feng, director at Soilbuild, said the partnership is a continuation of Soilbuild’s strategy of developing purpose-built schemes across the residential and business space.
“QIP and Soilbuild have significant expertise in providing a full spectrum of real estate solutions, and through this strategic partnership with QIP, we are leading the way to build a scalable portfolio of UK PBSA assets to address the structural undersupply of quality student accommodation in the market,” he added.
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