Regeneration news
Royal Albert Dock student housing scheme secures major funding
DPK Group has secured a loan of £113m to transform 450,000 square feet of office space at Royal Albert Dock into 1,085 student bed accommodation.
The funding from Firma Partners will support the conversion of DPK Group’s office complex at Royal Albert Dock into one of London’s largest single-site student accommodation schemes.
The project will convert 20 buildings into accommodation for 1,085 students, alongside 55,000 sq ft of retail and retail and amenity spaces.
DPK Group secured full planning consent for the conversion into student accommodation, educational and retail uses in 2023. The conversion will predominantly be internal fit-out works with no structural changes required. It is expected to be completed over an 18-month construction programme with practical completion targeted for autumn 2027.
The scheme will be managed by Homes for Students, an experienced operator with a strong track record of high occupancy and excellent service. The site is in a prime location, just a 17-minute walk from the University of East London (UEL), which has around 40,000 students. The site benefits from excellent DLR connections, providing fast and convenient access to central London
Royal Albert Dock is an extremely compelling opportunity...and a strategically located waterfront asset with incredible regeneration potential.
Victor Librae, Chief Executive of Firma Partners
The development forms part of the wider regeneration of the Royal Docks, where more than £10 billion is being invested over the next 20 years. The scheme will bring new life to this strategic waterfront site and support the area's continued growth.
Victor Librae, Chief Executive of Firma Partners, said: “Royal Albert Dock is an extremely compelling opportunity that combines a genuine undersupply of student accommodation, a very strong institutional operator and a strategically located waterfront asset with incredible regeneration potential. The conversion of vacant, high-quality office space into modern PBSA is exactly the kind of complex, value-unlocking repositioning project Firma was set up to support. We are delighted to partner with DPK Group on such a placemaking scheme that will make a meaningful contribution to London’s quality student housing supply.”
David Maxwell, founder of DPK Group, said “Royal Albert Dock is a unique asset with exceptional connectivity and strong potential as a student-led campus environment. Firma Partners understood the complexity and opportunity of this unique project and provided a tailored financing strategy that supports realistic delivery.”
