HB Reavis has successfully obtained planning consent for the conversion of an outdated office structure located near Waterloo station in London into a purpose-built student accommodation (PBSA) scheme featuring 233 rooms. This redevelopment project at 10 Leake Street is poised to significantly contribute to the growing demand for quality student living spaces in central London.
Project Details and Design
Designed by the esteemed architectural firm PLP Architecture, the new PBSA will offer a diverse range of living arrangements, including both studios and shared cluster flats. In addition to the residential units, the project will encompass a welcoming lobby, a study lounge, and a shared dining area. Notably, it will also feature a rooftop terrace that provides stunning panoramic views of London, a fitness studio focused on wellbeing, and secure cycle spaces for residents.
Insights from HB Reavis
Ryan Jakes, the head of living and commercial at HB Reavis, expressed enthusiasm regarding the planning approval, stating, “Securing planning approval at 10 Leake Street marks a major milestone for HB Reavis as we establish our living portfolio in the UK. We’re targeting uses with strong long-term fundamentals and we see PBSA in central London aligned with leading universities as underpinned by consistent demand, lack of supply and a clear need for high-quality student homes.” This sentiment highlights the strategic importance of PBSA in addressing the growing housing crisis for students in urban centres.
Commitment to Quality and Accessibility
Ian Spencer, director of residential services at the London School of Economics and Political Science (LSE), also commented on the project, noting, “The Waterloo development will deliver high quality, professionally managed accommodation in a location that will appeal to our students. Its proximity to the LSE campus and excellent access to public transport make it very well-suited. I particularly welcome the inclusion of affordable student accommodation, which supports our commitment to widening participation and ensuring access for students from a range of socio-economic backgrounds.” This commitment to affordable living options underscores the importance of inclusivity in the design and management of student residential facilities.