Insights > Deals
Maslow provides £238 million for 941‑bed London student development
14 October 2026 | Development finance | UK | 941 beds | Development
The facility supports the development of Devonshire Place on Old Kent Road, with student accommodation targeted for completion ahead of the 2029/30 academic year.
Key details
Asset type | Development |
Location | London, UK |
Capacity | 941 beds |
Borrower 1 | Arada London |
Borrower 2 | Shaw Corporation |
Lender | Maslow Capital |
Contractor | Arada London construction business |
Value | £238 million |
Source: Arada London
The joint venture will deliver the student residence across two towers at Devonshire Place. Arada London's in‑house construction business will act as the main contractor.
The same facility also supports 200 affordable homes, so £238 million represents the total financing for the mixed‑use development. Maslow previously financed an earlier stage of the site.
Strategic context
The larger facility moves the site beyond its earlier financing stage and supports the delivery of a substantial addition to London's student accommodation stock.
The sponsor's own construction business is responsible for execution, making programme control and cost management central to the lending case. A target opening in the 2029/30 academic year aligns delivery with the academic letting cycle, but the investment remains exposed to construction and subsequent leasing rather than an established rent roll. The affordable‑housing element also matters when comparing the financing amount with student‑only schemes.
SUBSCRIBE TO STUDENT HOUSING INSIDER
Stay close to the student housing market
Subscribe to Student Housing Insider for a weekly update on student housing transactions, development pipeline, market trends and selected BONARD analysis.
Designed for investors, developers, operators, lenders and market participants tracking the student housing sector.