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£190M green loan powers 897‑bed London PBSA project
16 September 2026 | Development finance | UK | 897 beds | Development
NatWest facilitates the urbanest's two‑tower South Bank development scheduled to open fot the 2029/2030 academic year.
Key details
Asset type | Development |
Location | London, UK |
Capacity | 897 beds |
Borrower | urbanest |
Lender | NatWest |
Value | £190 million |
Advisers | Norton Rose / Knight Frank / Pinsent Masons |
Source: BDC Magazine
NatWest provided the facility for urbanest Albert Embankment, a two‑tower PBSA development on the South Bank in Vauxhall. The 30- and 27‑storey buildings will provide 897 beds alongside resident amenities, a cafe and community space.
Demolition is complete and main works are underway after Gateway 2 approval, with completion scheduled for summer 2029 ahead of the 2029/30 academic year.
NatWest was advised by Norton Rose and Knight Frank, while Pinsent Masons advised urbanest.
Strategic context
For urbanest, the financing moves its eleventh central London residence into full delivery and is expected to take the portfolio above 7,000 beds. The green structure also supports Passivhaus and BREEAM Outstanding targets, strengthening urbanest's sustainability‑led positioning in a supply‑constrained market.
For NatWest, the facility extends a longstanding relationship with a specialist operator and deploys substantial capital against a large, university‑oriented London asset.
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