M&G Real Estate acquires €158m PBSA development in London

M&G Real Estate has bought a large student housing development in Stratford, London, from Get Living for £135 mln (€158 mln).

The 504-bed project, known as N16 Stratford, is currently under construction by HG Living and HG Construction and is expected to be finished for the 2028/29 academic year. 
The development will consist of two towers, ten and 18 storeys high, and will offer students over 1,500 m2 of amenities such as roof terraces and courtyards.
Alex Greaves, head of UK Residential, M&G Real Estate, said: “N16 Stratford is an excellent addition to M&G’s significant student accommodation portfolio and addresses the acute need for quality accommodation in London. We are excited about the opportunities it presents alongside the potential for attractive returns in a market that has consistently shown resilience and growth.”
Craig McPhail, director, HG Living, commented: “We are delighted to partner with M&G Real Estate on N16 Stratford. Their expertise and strategic vision align perfectly with our commitment to delivering sustainable, high-quality accommodation with strong sustainability credentials in a key undersupplied student market.”
Adam Quinn, CEO, HG Construction, added: “We are well underway with preparing the BSR submission, and we look forward to making a meaningful start on construction towards the end of the  year in preparation for receiving students in the 2028/2029 academic year.”
Designed to be highly sustainable, the N16 Stratford development is aiming for an EPC A rating and BREEAM Outstanding accreditation. Located in the former Olympic Village, the project represents the last stage of Get Living's East Village development and received planning approval in 2023. 
This purchase brings M&G Real Estate's total student housing portfolio to over £900 mln (€1.05 bn) and more than 8,000 beds.