The Carlyle Group Global has announced the launch of its new London-focused student accommodation brand, Pure Student Living. The alternative investment manager has teamed up with Generation Estates in a joint venture to develop a number of centrally located, high quality, but competitively priced residential halls, in a bid to address the underserved London market.
The Carlyle Group Global has announced the launch of its new London-focused student accommodation brand, Pure Student Living. The alternative investment manager has teamed up with Generation Estates in a joint venture to develop a number of centrally located, high quality, but competitively priced residential halls, in a bid to address the underserved London market.
Rooms are already available in the venture’s first scheme, Pure Highbury in North London. Due to open in August this year, Pure Highbury is a centrally located 400-bed private residential hall, located just two minutes walk from Finsbury Park underground station and within 20 minutes of 18 London universities.
Robert Hodges, Managing Director at The Carlyle Group, said: 'The launch of the Pure brand is an important stage in the development of our student accommodation product in the London, which is a great complement to our existing Student Hotel operations in the Netherlands. We believe that this market is underdeveloped and has huge potential to grow in London, given the current imbalance of supply and demand in the sector, and look forward to bringing our pipeline of new sites to completion.'
Pure offers students the choice of either study-bed or studio type rooms and uses a simple all-inclusive pricing structure which provides packages that include 10Mb internet provision, all utility bills, a 24-hour gym and fitness centre and contents insurance, as well as 24-hour security and dedicated maintenance and housekeeping teams run by a residence manager. The costs range between £215 (EUR 261) and £255 per week.
Pure residences will also feature numerous communal social spaces including a games room, outdoor terraces, iMac computer suite and cinema room, as well as a kitchen and lounge.
In addition to Pure Highbury, Pure Student Living has three further residences which are due to be delivered during 2013 and 2014, adding around 1,800 beds to London’s private student housing market. These will be Pure Hammersmith, located at the former Hammersmith Palais concert venue, Pure Bankside, on Ewer Street in Southwark, and Pure City, on Goswell Road in Islington
Generation Estates' management team has been responsible for around 5,000 high-quality, purpose built student beds in London since 2004.
