Asset type	Operational asset
Location	Kingston upon Thames
Capacity	130 units
Seller	Northridge Capital
Buyer	AXO Student Living
Value	£23 million

AXO Kingston

Kingston represents one of the more structurally undersupplied PBSA submarkets within Greater London. The transaction reflects a development-led acquisition in a prime university location, supported by proximity to Kingston University, which has a total student population of 18,815, including 4,125 international students.

The asset comprises a mix of standard, premier, and deluxe studio units (17–19 sqm), with weekly rents starting from £325.

Strategic context

Following the transaction, AXO Student Living’s operational portfolio comprises nine assets across the UK, including seven in London and two in Coventry, totalling 1,965 beds.

The Kingston asset was completed in October 2015, with a reported construction cost of approximately £7 million. In 2024, the asset was refinanced through a loan facility in excess of £10 million provided by Investec.

Northridge Capital initially launched the sale of a portfolio of three operational PBSA assets in June 2025 (343 beds across Kingston upon Thames and Derby).