Lothbury Investment Management, on behalf of Lothbury Property Trust (LPT), has added further to its portfolio of student accommodation with the completion of a 166-bed facility in Peckham Road, Camberwell, south east London, valued in excess of £20m.
The development comprises a part extension and part conversion of the London Borough of Southwark’s former town hall to create new high specification student accommodation based in four buildings, three of which are historic Grade II listed. As well as 166 student beds, the development includes artists’ studios, and a café gallery.
The forward funding project was developed by specialist student accommodation developer, Alumno Developments. The scheme is let in its entirety to Goldsmiths University and Homes for Students will manage the site on behalf of Lothbury.
Simon Radford, chief executive of Lothbury Investment Management, said “We put in place a strategy last year to increase the weighting in the “other” sector and diversify the Fund’s portfolio. The result here is that we have rapidly assembled a portfolio of high value, excellently located student accommodation, with the 196-bed Powis Place, Aberdeen development having recently opened and the 418-bed scheme at Sheraton Park, Durham currently under construction. These assets are added to the 100-bed Central Studios, Ealing and 135-bed East Sands, St. Andrews assets, which were purchased in 2015”
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Lothbury Investment Management Limited is the manager of the Lothbury Property Trust ("LPT") and the Lothbury Global Feeder LP ("LGF") (together, the “Funds”). LPT is a sub-fund of the Lothbury Global Institutional Funds, which is regulated by the Central Bank of Ireland. LGF was established as a limited partnership in Jersey under the Limited Partnerships (Jersey) Law 1994 through the filing of a declaration of limited partnership. The Funds are alternative investment funds (“AIFs”) for the purposes of the Alternative Investment Fund Managers Directive (2011/61/EU) (the “Directive”). LIM has been appointed and acts as alternative investment fund manager (“AIFM”) in respect of the AIFs. For these purposes, LIM is authorised and regulated in the United Kingdom by the Financial Conduct Authority for the purposes of managing unauthorised AIFs (and for various other activities). The Funds are also unregulated collective investment schemes for the purposes of the United Kingdom Financial Services and Markets Act 2000 (the “Act”).
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