McLaren secures forward funding deal for student and co-living campus

We have advised longstanding developer client McLaren Property on a forward funding transaction with iQ Student Accommodation, one of the UK's leading providers of student housing. McLaren Property will deliver the scheme alongside Topland Vintage Group and in partnership with iQ, which is fully owned by funds managed by Blackstone.

Comprising 1,078 PBSA beds, 131 co-living beds and 6,000 sq ft of retail space, the development will represent the largest privately owned PBSA scheme in the vicinity of the University of Warwick. The scheme will be delivered in two phases, with the first phase expected to complete in 2025 and the second phase following in 2026.

Led by real estate Partner Paul Leamy, McLaren was supported by Consultant Eamonn Cannon and Senior Counsel Chris Komodromou in the Real Estate team, Partner Matthew Jones and Associate Sam Cave-Browne-Cave in the Construction team, and Partner Emma Tait in the Planning team.