News - Midlands
Derwent Living enters London market
Housing provider Derwent Living has announced its first push into London's expanding student market, sealing a £17m deal to build 136 studio flats near the capital's City University. The Derby-based provider has purchased land in Wakley Street opposite the university; work has already started on site, with completion expected in September 2010. The new scheme will be called Derwent Point. Paul Wisher, Derwent Living commercial director, said: “Our development of Derwent Point builds on our success as a student-accommodation provider. The gross asset value of the scheme, which is our first development in the capital, is around £26m.” Walker said the deal is part of a strategic plan, with Derwent Living aiming to move beyond its traditional territories of the Midlands, South Yorkshire and the South East. The organisation already owns and manages large-scale student villages in Sheffield, Nottingham, Leicester and Derby.