The scheme will comprise 742 purpose-built student accommodation (PBSA) beds and 79 C3 affordable homes, forming a central component of Art-Invest’s wider Dockside masterplan and contributing to the expansion of the emerging education and innovation quarter at Canada Water. The project is expected to have a gross development value in excess of £350 million. Art-Invest will retain an interest in Plot B following the disposal.
Reed Smith advised Art-Invest on all legal aspects of the sale. Reed Smith’s team was led by Graham Reid supported by Real Estate and Construction Partners Brigid North and Laura Riddeck, Corporate Partner Delphine Currie, Finance Partner Jason Richardson and Tax Partner Caspar Fox. The wider team included Charlotte MacArthur, Elia Kitromilides, Victoria Bryden, Ciaran Sweeney, Roxana Burghel, Tom Baxter and Will Rees.
The deal supports Fusion and Cheyne’s continued expansion in the PBSA sector, including their pipeline to deliver more than 12,000 operational beds by 2030 and marks their third partnership in London. For Canada Water, it represents another step forward in the transformation of the area into a vibrant mixed-use district anchored by British Land’s 53-acre town centre development.
This transaction further underscores Reed Smith’s significant experience advising on high-value real estate development and investment matters, particularly in London’s large-scale regeneration projects and in the rapidly expanding UK student accommodation market.
CBRE and ACRE Capital advised Art-Invest on the commercial aspects of the disposal.