Long-standing Penningtons Manches client, Alumno Developments, has had its plans for one of the capital’s tallest student flats towers approved by the London Legacy Development Corporation. Consent has been secured for a £45 million, 26-storey block at 206-214 Stratford High Street, E15.
The proposed scheme will provide 431 student accommodation units as well as 1,034 sq m gross of artists’ studio space and 137 sq m gross of restaurant space. The application replaces an extant planning permission on the site for a residential and retail scheme, which was deemed commercially and financially unviable to implement. Upon completion, the student accommodation will be managed by Derwent Living.
Construction of the scheme will begin in the summer with completion expected for 2016.
The Penningtons Manches real estate team has advised Alumno Developments for several years on similar projects and is currently advising on other student accommodation schemes in Central London and also in three other university cities in the UK.