UK PBSA developer and operator Fusion and global investment firm Cheyne Capital have acquired a second site for a PBSA development in Brent Cross Town.
The £8 bn (€9 bn) Brent Cross Town redevelopment project in North London, spanning 73 hectares, is being jointly developed by Related Argent and Barnet Council. It will create a new community featuring 6,700 homes, workspace for 25,000 people, schools, shops, restaurants, and over 20 hectares of green spaces.
Fusion will develop a £275 mln (€321 mln) student accommodation building with approximately 650 beds on the second site. Designed by PRP, the development will include dedicated study spaces, a virtual sports arena, and a health-focused kitchen complete with a zero-waste shop, yoga studio, and relaxation areas. Related Argent will oversee the planning process, with submission expected by the end of 2024.
The development is just minutes from Claremont Park and a short walk from Brent Cross West station, with swift access to St. Pancras International minutes via the Thameslink line. Students will also benefit from the upcoming Sheffield Hallam University campus, marking its first location outside Yorkshire.
Julian Evans, Land and Planning director at Fusion Group, said: ‘Brent Cross Town is London’s most exciting new neighbourhood, and expanding our partnerships with Cheyne and Related Argent to bring more than 1,300 student rooms to it is a privilege.’
Hamish Gordon of Cheyne Real Estate, added: ‘The student housing market continues to be driven by considerable demand, with a growing need for high-quality and well-located developments across the UK and particularly in London.’
Oli Rifkind, executive director at Related Argent, added: ‘This new development will support future generations to thrive and adds to the vibrant mix at Brent Cross Town – a place where co-living, student homes, later living, rental, for-sale and affordable homes are all on offer alongside workspace for 25,000 people, catering for all ages and stages of life.’
The seventh joint venture between Fusion and Cheyne and their second project in Brent Cross Town will increase the combined value of their investments in the area to approximately £500 mln (€584 mln).
Fusion and Cheyne’s first Brent Cross Town PBSA project is nearing completion and will offer 662 rooms, along with a cinema, e-sports arena, gym, and yoga studios.
At Brent Cross Town, seven buildings are under construction with the first residents moving in later this year. The first office building, 3 Copper Square, is underway and will be completed in 2026. In total, over 930 homes, including affordable, market sale, and rental homes are on-site, alongside the first 662 student rooms in partnership with Fusion and Cheyne.
