French co-living investor Uxco Group together with Banque des Territoires have acquired the future Uxco Station 59 residence in Villeneuve-d'Ascq.
The JV will be 65% owned by Uxco Group (part of M Group) and 35% by Banque des Territoires (part of CDC Group) and represents the first step in a structuring partnership in the Hauts-de-France region.
The 87,000 m2 student and co-living residence will offer 221 units, from studios to T5s, providing short, medium and long stays for students and young workers.
The property will include nearly 1,400 m2 of common areas dedicated to coworking and well-being, including shared kitchen, relaxation areas, fitness room, connected laundry, in addition to secure parking, bike room and appliance rental service.
Once completed in June 2023, the student and co-living residence will be one of the central buildings in the Grand Angle real estate programme being developed by Vinci Immobilier and located in the heart of the town in the European Metropolis of Lille.
The Grand Angle large-scale real estate programme will include outdoor spaces (a shopping square, a citizens' esplanade, etc.), as well as a social centre, an office building, and a student and co-living residence.
Maël Aoustin, chairman of the Management Board of Uxco Group and Grand M Group, said: ‘We would like to thank all of our teams, as well as our partners, whose collective work continues to grow our group, to help us reach our goal of 20,000 beds by 2025 and thus affirm our position as the French leader in student housing and coliving.’
Olivier Camau, regional director of the Banque des Territoires in the Hauts-de-France, commented: ‘Through this acquisition and partnership, Banque des Territoires is responding to the important issue of student housing in the region, in support of a public policy of requalification of the city centre of Villeneuve-d'Ascq. The Banque des Territoires is pleased with this partnership with a leading player in the field of managed residences, and around a structuring project for the municipality of Villeneuve-d'Ascq.’
Uxco Group currently operates 55 residences for students and young professionals in 30 cities across France.
