The recent investment by Housing Growth Partnership (HGP) in a Purpose-Built Student Accommodation (PBSA) project in Cardiff marks a significant milestone as it surpasses £500 million in total equity investments since its inception. Established in 2015, HGP has become a key player in the UK housing sector, supporting 88 partners and facilitating the delivery of approximately 13,400 homes across the region.
The latest initiative involves an equity commitment of £4.9 million towards the development of Trafalgar House, in collaboration with the developer Urban Centric. This project entails the transformation of a former office building into an eight-storey PBSA, which will feature 310 beds designed with modern amenities. Key facilities include yoga rooms, lounges, cinemas, two roof terraces, and 132 cycle spaces, catering to the contemporary lifestyle and preferences of today’s students.
Mike Murphy, Investment Director at HGP, highlighted that this transaction not only elevates HGP’s equity commitment to over £500 million but also reflects the organisation’s unique proposition in the market. He noted that their track record, combined with funding certainty and access to a network of senior advisors, has attracted numerous partners. Furthermore, HGP’s commitment to achieving an Energy Performance Certificate (EPC) rating of A indicates a focus on sustainability and long-term viability in student accommodation.
Tom Larkin, Acquisitions Director at Urban Centric, reiterated the shared dedication to enhance student living environments through this development. He emphasised the importance of creating well-connected and modern living spaces that contribute significantly to the local community, further enriching Cardiff’s vibrant atmosphere.