Urbanest Canary Wharf comprises three towers of between 28 and 48 storeys containing 1,672 bedsits and 80 residential apartments for students of University College London (UCL).
Developer Urbanest has now closed and completed on all financing and construction agreements to deliver what will be the largest purpose-built student accommodation (PBSA) scheme in Europe.
The development, designed by Apt Architects, is being built next to Billingsgate Market on the edge of Canary Wharf.
As well as Europe’s biggest PBSA scheme, it will also be Europe’s largest Passivhaus development, it is claimed, with air source heat pumps and plants climbing up the outside.
Amenities for students will include a gym, yoga studio, cinema, study spaces and games rooms, all situated within an elevated skybridge – and a drive-thru McDonalds restaurant.
There will also be 40,000 sq ft office and workspace.
Midgard, part of the JRL Group, is expected to complete construction in 2026.
Johnny Manns, chief investment officer at Urbanest, said: “The scheme reflects our commitment to working with exceptional designers to deliver high quality architecture and truly world-class environmental performance. With a growing student population in London, we strive to create high quality accommodation which provides students with more choice. We look forward to working with our construction and funding partners over the next three years and then to welcoming our first intake of UCL students.”
In addition to Urbanest Canary Wharf, Urbanest Battersea is also under construction and being built to Passivhaus standards. Between them the schemes will deliver around 2,500 student beds. This is in addition to the 4,000 beds across Urbanest’s central London portfolio of developments that have already been built.