Gamuda and QIP expand UK PBSA venture

Malaysian property company Gamuda Berhad and Q Investment Partners (QIP) are expanding their student housing project in Woolwich, London.

Woolwich PBSA project

Following the successful construction milestone of phase one, they have agreed to add a second phase to the development, building on phase one of Gamuda's first UK student housing venture and QIP's first London project.
Phase two, valued at £41.5 mln (€48.1 mln), will add 120 bedrooms, bringing the total across both phases to 419 and a combined value of approximately £144.5 mln (€167.5 mln). The land for phase two was purchased from London-based investor and developer Hurlington Capital, with completion slated for late 2026.
The Beresford Street project, situated within the Royal Arsenal regeneration area, benefits from excellent transport links, including direct access to central London via the Elizabeth Line. This prime location provides easy access to several major universities, such as the University of Greenwich, King's College London, and LSE.
The development is designed to prioritize student wellbeing, featuring amenities like private study spaces, gyms, yoga rooms, games rooms, bike storage, and a community hub.
With a focus on both sustainability and affordability, phase one aims to achieve high environmental ratings (BREEAM Excellent and EPC A) and will include 35% affordable student rooms.
Chu Wai Lune, CEO, Gamuda Land, said: “The success of Phase 1 reinforces our confidence in the UK student housing sector and in our ability to create high-quality, sustainable living spaces that resonate with global student needs. At Gamuda, we view the UK as a strategic market and are steadily growing our presence through carefully selected partnerships and opportunities. This expansion reflects our commitment to scaling our PBSA footprint across key academic cities, bringing the same level of design quality and community focus that define our developments globally.”
Peter Young, CEO and co-founder, Q Investment Partners, added: “The Woolwich schemes play a key role in QIP’s portfolio & represents our flagship PBSA development in London, reflecting our long-term commitment to the UK market. We were among the first to recognise the area’s potential, and we’re proud to see this development progress with strong momentum. The UK PBSA sector continues to present compelling opportunities, and we remain committed to delivering long-term value through well-located, thoughtfully designed assets.”
QIP and Hurlington Capital partnered in a joint venture in September 2023 to develop the Beresford Street PBSA site.