LSE Glengall Road Student Accommodation
20th December 2021
DWPF acted as financial advisor to DIF Capital Partners on the The London School of Economics and Political Science (LSE) student accommodation PPP, located on Glengall Road in London.
The project is a greenfield PPP that includes the design, build, financing, operations and maintenance (DBFOM) of new student accommodation facilities that comprise 676 beds, communal spaces, a gym, three roof terraces, a cinema room and two courtyard gardens.
Design, build, operations and maintenance will be completed by Engie, which is a subsidiary of EQUANS, a global contractor in the utility, industry and infrastructure sectors. Long-dated funding has been provided by Pension Insurance Corporation plc, which is a UK-based specialist insurer of defined benefit pension funds.
Simon Johnson, Project Lead and Director at DWPF: “We are delighted that this successful project builds on our relationships with both DIF and EQUANS. I believe it will deliver a tremendous accommodation asset for the LSE’s future offer to its students.
It is particularly rewarding that all the parties have had to work and learn together to create a project that addresses the impacts of the coronavirus pandemic, weighing the considerations for financial close, for construction and for operations and use in the years beyond”.
Ian Spencer, LSE Director of Residential Services: “One of the priorities in LSE’s 2030 strategy is to Develop the LSE for Everyone. For Residential Services this means guaranteeing an offer of accommodation to all first-year students. The Glengall Rd development takes us a significant step towards that goal by providing 676 affordable rooms for our graduate students”.