Fusion and Cheyne buy site for PBSA scheme in Brent Cross
Fusion Group and Cheyne Capital have jointly acquired a second site for purpose-built student accommodation in Brent Cross Town in London. The £275 million gross development value Fusion scheme will provide 650 student beds.
Brent Cross Town is a 180-acre, £8 billion mixed-use town project in north London being developed by Related Argent and Barnet Council which, when complete, will comprise 6,700 new homes of a variety of tenures, workspace for 25,000 people, schools, a high street, leisure spaces and over 50 acres of parks and playing fields.
“Fusion and Cheyne’s commitment to a second student housing scheme aligns with our programme of delivering complementary uses to the rest of the development to help accelerate the growing population of our new Park Town,” said Oli Rifkind, executive director, Related Argent. “This new development will support future generations to thrive and adds to the vibrant mix at Brent Cross Town, a place catering for all ages and stages of life.”
Related Argent will lead the preparation of the planning application which is expected to be submitted in Q4 2024. The scheme will include expansive study areas, a digital competitive gaming zone where residents can play virtual sports including football, padel and tennis, as well as a health kitchen that includes a zero-waste shop, private dining, a yoga studio, a herb garden and relaxation pods.
The development will be located just minutes from Claremont Park and close to Brent Cross West station on the Thameslink line, which connects with St Pancras International in as little as 12 minutes. Alongside excellent connections to central London universities, Brent Cross Town has its own university offer, with Sheffield Hallam University set to open its first campus outside Yorkshire there.
This is the seventh development on which Fusion and Cheyne have partnered and their second in Brent Cross Town. The new scheme will bring the value of the investment partnership’s assets in Brent Cross Town to around £500 million in gross development value.
Fusion and Cheyne’s first PBSA scheme in Brent Cross Town is expected to complete in Q2 2025. The scheme of three connected buildings will provide 662 rooms, a dedicated events space, a café, and a zero-waste shop, as well as a cinema room and an e-sports arena.
In line with Fusion’s design-led focus on residents’ health and wellbeing, it will also feature group and private study lounges and rooms, an onsite gym, yoga and wellness studios, a basketball court and an external terrace.
“Brent Cross Town is London’s most exciting new neighbourhood,” said Julian Evans, land and planning director, Fusion Group. “As we continue our community engagement to ensure we can best contribute to the vibrancy of this neighbourhood, we’ll bring our decades of experience of developing residential assets in urban regenerations across the country to deliver another best-in-class student scheme as part of the town.”
