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New student accommodation building set for Holloway Road

A new 260,000 sqft student accommodation building proposed for Islington, London has received planning approval.

The 900 bed scheme has a forecast total development cost of £93 million and will be located on a 1.4 acre site on Holloway Road.

Richard Simpson, Managing Director of Property, said: "We are delighted to have secured planning for this development in such a central London location. Islington is a vibrant, diverse part of the capital, popular with students and provides access to London's many leading academic institutions.

"There is a significant shortfall of student accommodation in London which puts pressure on the residential housing market. This new development will not only help alleviate that, but will also contribute to the regeneration of one of London's oldest boroughs and represents an important milestone in our development strategy."

The development will help regenerate the area through the provision of community space and commercial units for local businesses on the ground floor.

The project is planned to be developed by The London Student Accommodation Vehicle (LSAV), Unite's 50:50 joint venture with GIC.

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