NatWest has provided a £190 million green development loan to support the construction of a new Purpose-Built Student Accommodation (PBSA) scheme at Albert Embankment in central London. The project, delivered by urbanest in partnership with contractor Midgard, is set to create accommodation for 897 students.
The development is linked to the future needs of London’s higher education sector and is scheduled to open for the 2029-30 academic year. According to the Birmingham Mail, construction follows the completion of demolition work and approval at Gateway 2, with main works now underway.
A New Student Housing Development in Central London
The Albert Embankment project is being developed by urbanest, one of London’s PBSA developers and operators. The scheme will provide 897 student rooms alongside resident facilities, a café and a dedicated community space for a local dance school.
According to NatWest, the financing forms part of its Growing Together campaign, which supports regional growth through infrastructure developments. The bank said the loan would support the delivery of a sustainable student accommodation project while contributing to the local economy.
Eirini Kalamara, Director in the Residential team at NatWest, said the project would create sustainable accommodation for students while supporting the surrounding area. “We are delighted to support urbanest with the delivery of Albert Embankment, which will create world-class, sustainable accommodation for students while supporting the local economy,” Kalamara said.
She added that the Growing Together campaign was focused on helping to unlock infrastructure developments that strengthen local economies and create places for people to live, learn and thrive. The development is expected to provide accommodation for students attending London universities, with the completed building designed to include shared spaces intended for residents and members of the local community.
Sustainability Targets and Long-Term Student Living Plans
The project is targeting both Passivhaus and BREEAM Outstanding certification, reflecting the sustainability goals set by NatWest and urbanest for the building.
According to the Birmingham Mail, the development is intended to deliver a student living environment with a focus on sustainable construction standards and long-term use. The project is part of wider efforts by developers and financial institutions to support new buildings designed around environmental standards.
Paul Anderson, Group Treasurer at urbanest, said demand for high-quality student accommodation remained connected to London’s position as a destination for students from around the world.
“As London continues to attract students from across the world, the need for high-quality, sustainable accommodation has never been greater,” Anderson said.
He said urbanest Albert Embankment represented an investment in the future of the capital’s higher education sector and would provide almost 900 students with a place to live.
The scheme is expected to be completed in summer 2029 before welcoming students for the following academic year. The project will add new accommodation capacity while also including facilities intended to support interaction between residents and the local community. The development represents a partnership between NatWest, urbanest and Midgard to deliver the new student accommodation site in central London.
