Santander finances student housing project in London

Wood Lane Studios, a new specialist housing project for postgraduate students in London, has received a £65 mln (EUR 82 mln) development and investment funding package from Santander Corporate Banking.

The 19,500 m² complex, which houses 606 self-contained studios, opened in September. The site is owned and was developed by Voreda Real Estate Fund - a boutique London-based real estate developer and investor - and Imperial College London.

The building has a BREEAM Excellent rating and forms part of the 1,330-unit GradPad London student accommodation portfolio catering exclusively to postgraduate students in London.

Steven Dykes, partner at Voreda, said; 'We have worked closely with the Santander team over the last two-and-a-half years on this project. They understood from the outset the ethos of the high-quality product we were looking to create and we are all extremely happy with the completed building which has now welcomed its first residents.'

Wood Lane Studios is the first phase of the 108,000 m² Imperial West regeneration project, for which Voreda is also development manager.