Hines has acquired a development project for 260 student beds in Bristol, UK. This marks their first collaboration with Watkin Jones, a prominent developer of residential rental properties.
The new development on Gas Lane will address the growing demand for student housing in Bristol. Expected for completion in time for the 2025/26 academic year, it will provide much-needed student accommodation.
Situated within Bristol Temple Quarter, a major regeneration zone, the project aims to revitalize a currently disused site. It will offer a mix of en-suite cluster bedrooms and self-contained studios, alongside top-notch amenities like a landscaped rooftop terrace.
The prime location places students right next to the University of Bristol's new campus and within walking distance of the main train station. This provides easy access to London, Oxford, and Bath.
Jorge Duarte, senior managing director and fund manager of HEPP said: ‘The creation of class-A student living schemes in our preferred markets is a high-conviction investment theme for us and we’re delighted to have secured another asset in a prime location. The number of students going into education has grown exponentially and the undersupply of purpose-built student housing in the UK is well documented.’
Alexandra Gumuchian, director at Hines UK added: ‘This acquisition gives us the opportunity to transform a dormant brownfield site into a well-connected, highly-amenitised asset to the community.’
George Dyer, Group investment director at Watkin Jones, added: ‘Bristol continues to be one of the UK’s leading PBSA markets with two high performing institutions. This scheme will play a key part in helping to address the ongoing shortage in student accommodation’.
Once complete, Gas Lane will be under the care of aparto, Hines' renowned student living management platform. Earlier this week, aparto expanded its portfolio by announcing two new projects in Paris, marking its entry into France and adding 1,300 beds.
The project prioritizes sustainability, aiming for both BREEAM Excellent and WiredScore Silver certifications. This translates to features like over 80 bicycle parking spaces, biodiverse roof areas, integrated bird and bat boxes and wildlife-friendly landscaped areas.
HEPP was advised by Simmons and Simmons, while Watts, Arup, and Savills. Watkin Jones was advised by Mishcon de Reya.
