An ambitious plan for a huge PBSA scheme in London has been greenlit after the developer agreed to pay the council £8.02m to help fund affordable housing.
The bid from Urbanest will see two striking high-rise towers of 30 and 27 storeys being built to provide 769 student rooms and 897 bedrooms in Vauxhall.
Currently home to a petrol station, the development was approved by Lambeth Council and the financial commitment is compensation for a reduction in affordable student units from 35% to 20%.
London needs student accommodation
Johnny Manns, the firm's chief investment officer, said: "As [University College London] has made clear, the shortage of student accommodation in London is now so acute that they've had to withdraw the guarantee of an offer of a bed for first-year students.
"Our scheme will deliver 769 PBSA bedrooms that will help to alleviate this shortage."
He added that the design team is ready to advance detailed plans, with a main contractor already appointed to begin construction later this year.
Diverse accommodation choices
The project will feature a diverse range of accommodation options, including self-contained studios, cluster flats with shared facilities, ensuite rooms and twin ensuite units.
Accessibility is also being prioritised with specially designed rooms throughout.
Students will benefit from a variety of communal spaces, such as rooftop and podium-level outdoor areas, study rooms, common lounges and a gym.
The scheme also involves refurbishing a four-storey office building on the site, with a two-storey rooftop extension to improve its functionality while preserving its office use.
A new café and a cultural venue, offered rent-free for 20 years to Neon Performing Arts, will further enrich the local community.
Concentration of student housing
Local councillors were concerned about the loss of a previously approved hotel development and the concentration of student housing in the area.
However, the project meets the London Plan's target of delivering 3,500 new student bedspaces annually.
Councillors secured assurances that the £8.02m payment will be directed to local affordable housing projects.
The planning committee also amended conditions to ensure equitable allocation of rooms, preventing affordable units from being disproportionately assigned to the least naturally lit spaces.
They also adjusted terrace operating hours to balance community needs.
Student accommodation in London
The managing director of Accommodation for Students, Simon Thompson, said: "The approval of Urbanest's Vauxhall development shows just how strong the demand for student accommodation in London is.
"The project underscores the need for high-quality, modern facilities to attract students seeking diverse living options and premium amenities."
He added: "The £8.02m contribution to affordable housing reflects a strategic balance, ensuring community benefits while maintaining profitability."
