Dominus, a leading real estate development and investment group, has announced the successful completion and handover of the Scape Hammersmith purpose-built student accommodation (PBSA) scheme. Located at 181 Talgarth Road in the borough of Hammersmith, West London, the development has been delivered to Scape, a global student living operator.
The completion marks a significant milestone in addressing London’s critical student housing needs, particularly regarding affordability. The Scape Hammersmith project is notable as the city’s first completed PBSA development to provide 50% affordable rooms, setting a precedent for future schemes aiming to align with policy objectives designed to support student access to higher education in the capital.
A New Standard for Affordable Student Living
The delivery of 50% affordable student rooms directly responds to the requirements of the London Plan 2021, the strategic planning document for the city. This policy emphasizes the need for affordable accommodation across various sectors, including student housing, to ensure London remains accessible and attractive to students from diverse backgrounds.
The 713-bedroom development at Scape Hammersmith represents a substantial addition to the capital’s student housing stock. By allocating half of its units as affordable, the scheme aims to alleviate some of the financial pressures faced by students in one of the world’s most expensive cities. The definition of “affordable” in this context typically relates to a rate significantly below market value, often linked to student loan maximums or other policy benchmarks, though specific pricing details were not immediately disclosed upon handover.
Strategic Funding Fuels Landmark Project
The Scape Hammersmith project was underpinned by a record-breaking financial agreement. It involved the UK’s largest forward-funding deal ever seen in the PBSA sector, valued at a substantial £173.25 million. This significant investment was secured through a partnership between Dominus and Scape.
Forward funding is a common mechanism in real estate development where an investor agrees to fund the construction of a project in stages, based on agreed milestones. This approach provides developers with secure financing while offering investors the opportunity to acquire a completed asset upon delivery. The scale of the £173.25 million deal underscores strong investor confidence in the London student housing market and the specific potential of the Scape Hammersmith scheme, particularly given its pioneering affordable component.
Collaboration with Imperial College London
A key element ensuring the affordable rooms benefit students in genuine need is a nominations agreement established with Imperial College London. Under this agreement, a proportion of the affordable beds will be made available specifically to students of this prestigious university.
Nominations agreements are standard practice in student housing partnerships, allowing universities to secure housing for their students, often prioritizing those from lower-income backgrounds, first-year students, or international students. This collaboration with Imperial College London is intended to ensure that the affordable provision at Scape Hammersmith directly supports access to higher education for students affiliated with the university, further cementing the project’s alignment with policy goals.
Architectural Vision and Amenities
The design of Scape Hammersmith was led by renowned architectural practice RSHP, headed by partner Ivan Harbour. Known for their high-tech and modernist approach, RSHP’s design for the PBSA scheme focuses on creating a functional yet engaging living environment for students.
The scheme incorporates thoughtful design elements aimed at enhancing student well-being and community. Landscape architecture was provided by Gillespies, who contributed to the external spaces. Features include a shared garden courtyard, providing a valuable green space for relaxation and social interaction within the urban environment. The development also includes dedicated space for events, facilitating community building and student activities on-site.
The architectural and landscape design together aim to create a secure, comfortable, and stimulating environment conducive to both academic study and social life, balancing private study areas with communal facilities.
Impact and Future Outlook
The completion of Scape Hammersmith is seen as a critical step forward for London’s student housing market. By proving the viability of delivering large-scale PBSA with a significant proportion of affordable units, the project sets a benchmark for future developments. Its success is expected to encourage further investment and development in the sector, potentially influencing planning decisions and encouraging other developers to incorporate higher levels of affordability into their schemes.
The project at 181 Talgarth Road demonstrates that strategic partnerships between developers, operators, and educational institutions, supported by forward-thinking policy like the London Plan 2021, can deliver much-needed affordable student accommodation. As London continues to attract students globally, schemes like Scape Hammersmith will play a crucial role in ensuring the city remains a top destination for higher education, accessible to students from all walks of life. Dominus’s delivery of this landmark project underscores its capability in executing complex urban developments that align with critical social and economic objectives.
