Malaysia’s engineering and property group Gamuda Berhad and Q Investment Partners (QIP) have announced the expansion of their purpose-built student accommodation (PBSA) development in Woolwich, London, with the addition of phase two.

The latest agreement marks a significant milestone in the strategic partnership between Gamuda and QIP, building on the successful momentum of phase one, which recently celebrated its topping out.

The expanded development reflects the pairs continued confidence in the long-term fundamentals of the UK’s PBSA market, following their inaugural collaboration on phase one, Gamuda’s first UK student housing project and QIP’s first scheme in London.

Phase two, with a gross development value (GDV) of £41.5m, will add 120 student bedrooms, bringing the total to 419 bedrooms across both phases, and a combined GDV of c.£144.5m. The phase two site was acquired from London-based investor and developer Hurlington Capital and is scheduled for completion in Q4 2026.

“We’re pleased to deepen our collaboration with QIP on this next phase of our Woolwich development. The success of Phase 1 reinforces our confidence in the UK student housing sector and in our ability to create high-quality, sustainable living spaces that resonate with global student needs.

“At Gamuda, we view the UK as a strategic market and are steadily growing our presence through carefully selected partnerships and opportunities. This expansion reflects our commitment to scaling our PBSA footprint across key academic cities, bringing the same level of design quality and community focus that define our developments globally.”

Chu Wai Lune, CEO, Gamuda Land

Located on Beresford Street within the Royal Arsenal regeneration masterplan, the Beresford Street development forms part of the multi-billion-pound transformation of the area and enjoys direct access to central London via the Elizabeth Line. The location ensures commute times of under 35 minutes to eight major universities, including the University of Greenwich (24 minutes), King’s College London (35 minutes), and LSE (35 minutes).

Designed with student wellbeing in mind, the final development will offer a full suite of amenities including private study areas, fitness facilities, yoga rooms, games rooms, bicycle storage, and a community hub with commercial space at ground level.

Sustainability and affordability are core to the project’s vision, with Phase one targeting BREEAM Excellent and EPC A ratings, and 35% of units designated as affordable student accommodation.

“This Phase two agreement underscores the strength of our joint venture with Gamuda and our shared ambition for delivering institutional-quality student accommodation that meets the evolving needs of students while creating long-term value for our investors and communities.

The Woolwich schemes play a key role in QIP’s portfolio & represents our flagship PBSA development in London, reflecting our long-term commitment to the UK market. Led by our UK-based QIP Development Group (QIPDG), under the leadership of James Coppack, this project also highlights the importance of our development expertise & execution within QIP’s vertically integrated real estate platform.

“We were among the first to recognise the area’s potential, and we’re proud to see this development progress with strong momentum. The UK PBSA sector continues to present compelling opportunities, and we remain committed to delivering long-term value through well-located, thoughtfully designed assets.”

Peter Young, CEO and Co-Founder, Q Investment Partners

In September 2023, QIP and Hurlington Capital formed a joint venture to develop Beresford Street PBSA site. The phase one topping out ceremony, held earlier this month, marked the structural completion of the initial 299-bedroom development and was attended by co-developers Hurlington Capital, along with other key stakeholders including CField Construction and Alpha Real Estate Finance.