Moorfield Group, the real estate investment manager, has partnered with Tiger Developments to deliver a 204-bed purpose-built student accommodation (PBSA) scheme in Bristol. 

The scheme will be developed and managed by the newly created joint venture, with Moorfield providing funding through its value-add fund, Moorfield Real Estate Fund V (MREFV).

Watkin Jones, a specialist living developer, has been appointed as the delivery and contracting partner for the development.

The £60 million gross development value scheme is being delivered on a brownfield site that forms part of Temple Quarter, directly opposite the University of Bristol’s £500 million Temple Quarter Enterprise Campus.

The scheme, situated on Freestone Road, is designed by Chapman Taylor architects, and will target an EPC A rating, BREEAM Excellent and will include PV panels.

Planning permission was granted for the development in January 2024 and is expected to be complete for the 2027 academic year.

Host, Tiger Developments’ student focussed operational business, has been appointed to manage the scheme upon completion.

Charles Ferguson-Davie, co-chief executive and chief investment officer at Moorfield, said: “MREFV has a thematic focus on living and storage real estate and PBSA remains a high-conviction sector, where we can meet demand for best-in-class accommodation in the UK’s most structurally undersupplied markets.

“There are many challenges facing the development sector, which now also includes the new building control submission process, and we are pleased that we have been able to form a partnership with Tiger and Watkin Jones, which are both very experienced developers.”

John Nesbitt, managing director at Host said: “This partnership with Moorfield Group will expedite the delivery of what we believe is one of the most exciting PBSA schemes planned for any UK city.

“Bristol’s student population is predicted to increase rapidly over the next decade, and this development is much needed, particularly in the context of the emerging and neighbouring Temple Quarter Enterprise.”

CBRE acted as advisers to Tiger Developments on this transaction.

Image: Chapman Taylor

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