24 July 2024 – Tri7, the specialist UK value-add real estate investment and asset management firm, and its joint venture partner Fusion Group – one of the largest privately owned student accommodation developers and operators in the UK – have secured planning permission from Haringey Council for a mixed-use scheme of high quality student housing and social homes in Wood Green, London.
The JV’s proposal will deliver the scheme on the site of a now vacant Bingo Hall and its car park on Lordship Lane, Wood Green. Approved plans will see the delivery of four buildings of up to nine storeys, containing 636 student bedrooms with associated amenity spaces, such as co-working and private study spaces, an on-site library and recording studio, dedicated cardio and strength training fitness areas as well as wellbeing yoga and sauna rooms. The internal amenity will also be connected to a two-storey atrium garden that links to an internal podium courtyard.
20 world-class higher education institutions have a campus within 35 minutes of the site by public transport and, cumulatively, these providers cater to a combined c. 223,705 London based students across their campuses.
The development will also provide 78 affordable homes, of which 52 will be social rent (45 apartments and seven five-bed town houses for families), as well as a further 26 shared ownership apartments.
The planning application was submitted following extensive consultation with local residents and Haringey Council. Designed by renowned architects Costorphine & Wright, the development will deliver 796 sq m for ground floor town centre use and c. 2,165 sq m of public open space, including children’s play areas and external amenity spaces outdoor amenity space that encourages wellbeing.
The scheme will also target BREEAM Outstanding accreditation and the PBSA building aims to achieve a 41% betterment over Building Regulations Part L.
Dan Green, partner at Tri7, said: “We are thrilled to have achieved planning permission for a mixed-use site that not only provides easy access to a range of world-class universities for the future residents of the purpose-built student accommodation beds, but also meets the area’s huge need for affordable housing, particularly social rent. This development adds to our strong portfolio of bed-led (whether PBSA or build to rent) city centre regeneration sites on which we can unlock value to deliver attract returns for our capital partners.”
André Ferdinand, Head of Projects at Fusion Group, said: “This scheme will provide truly expectional accommodation that both benefits its residents and contributes to the vitality of the local community through new social housing, particularly family homes, as well as much-improved public spaces. As a developer and operator of best-in-class living assets, Fusion’s focus is on creating places that enhance the health and wellbeing of residents and the community as a whole – our Wood Green scheme is a prime example of this, and we’re looking forward to continuing to work with the community, the council, and our partners to deliver our vision.”
