Precede Capital Partners and Deva Capital, the real estate and corporate capital solutions investment arm of Santander Alternative Investments, have provided an £87.7 million green development loan, originated by Precede Capital, to support the delivery of a purpose-built student accommodation (PBSA) scheme on Hastings Road in West Ealing, London.
This is Precede Capital and Deva’s second London PBSA financing in recent weeks, following their £112 million green loan for the Bollo Place development in Acton, funded in partnership with Nomura and Firma Partners. Together, the two schemes will deliver more than 840 student beds across West London, reflecting Precede and Deva’s confidence in the capital’s purpose-built student accommodation market.
The Development
The facility will support the construction of a 412-bed PBSA scheme, comprising a 17-storey main building alongside lower-rise elements of fourteen, five and three storeys. The development will offer a range of student amenities, including a screening room, gym, yoga studio, communal and private study spaces, games room, lounge, media booths and an external roof terrace, with completion scheduled for June 2027.
The scheme uses modular construction, with all accommodation manufactured off-site, allowing a more controlled delivery process that improves quality, reduces risk and helps keep the programme on schedule.
Connected West London Location
Located a three-minute walk from West Ealing station, the development has direct Elizabeth Line and National Rail connections across London. Residents will be approximately 20 minutes from both Heathrow Airport and Bond Street, with the University of West London within walking distance and the Hammersmith and White City campuses of University College London and Imperial College London accessible in just over half an hour.
Sustainability at the Core
The project has been independently assessed by Longevity Partners as exceeding the criteria for a Green Loan under Precede Capital’s Green Loan Framework, which aligns with the LSTA’s Green Loan Principles. The fully electric development will feature air-source heat pumps and a rooftop solar panel system, and is targeting BREEAM “Excellent” certification, an EPC rating of at least “B,” and a biodiversity net gain of over 10% through measures including green roofs and soft landscaping.
In Their Own Words
“We are pleased to work alongside Deva Capital on this green financing, which supports the delivery of a high-quality PBSA scheme in a well-connected part of West London. Modern methods of construction are playing an increasingly important role in improving construction efficiency and sustainability. We are working with a partner with a proven track record of delivering much-needed homes while minimising disruption to the local community. The combination of a strong West London location and innovative delivery approach makes Hastings Road a particularly compelling opportunity.”
Randeesh Sandhu, Chief Executive Officer at Precede Capital Partners
“Working alongside Precede Capital, we were able to structure a bespoke financing solution with an experienced sponsor to support the delivery of a well-located, transport-connected development in West Ealing that will provide much-needed student accommodation.”
Rahim Heydarov, Investment Associate at Deva Capital
