The £ 24 million Alumni project to develop custom-built managed student housing on Dogpool Lane in Birmingham will receive funding through a partnership with Woh Hup Holdings, one of Singapore’s largest construction companies.
Woh Hup, which was founded 95 years ago, currently has custom-built studio apartments (PBSA) in York, London and Bristol and more in the pipeline.
In 2020, in partnership with Metro Holdings and Lee Kim Tah, Woh Hup launched Paideia Capital UK Trust to acquire ready-made UK-based PBSA assets. Since its inception, Paideia has acquired locations in Warwick, Bristol, Glasgow, Exeter, Durham and London.
Focus for Woh Hup’s investment on Dogpool Lane is a new 24-hour managed residence designed to accommodate the growing number of students attending local universities and a dental hospital, removing the pressure on private housing in the area.
It will consist of a mix of cluster beds and study rooms for 167 residents as well as reception and common areas.
The scheme will also provide an improved retail space for the existing post office and kiosk based on the site, which will be relocated close under construction.
Permanent Alumno partners Glenn Howells Architects will design the building.
“I am pleased that we have secured funding from Woh Hup for this project, which will provide a financial boost to local businesses and provide much-needed housing to Birmingham’s growing students,” said Alumno CEO David Campbell. “As with all of our developments, we have worked closely with the surrounding community and local authorities to ensure that the scheme improves this vibrant area.”
Commenting on the financing of the project, Phil Johnson of Woh Hup said: “We believe that high-quality custom-built student housing in the UK offers great opportunities for investors. We are pleased to partner with Alumno, a unique and groundbreaking developer specializing in this area, and look forward to developing the relationship. ”
Alumno plans to have the new building completed for student admission in 2024.