Vita Group has secured over £200m in debt financing from asset management and insurance holding company Eldridge Capital Management’s real estate credit arm to build a 48-storey tower in London’s Canary Wharf neighbourhood.
Eldridge’s financing marks the eighth transaction with Vita Group and the deal extends the firm’s interest in the UK’s purpose-built student accommodation (PBSA) sector.
Located at 30 Marsh Wall, south of the West India Docks, the development includes 1,068 studio apartments across eight-unit types ranging from 18 to 46 sqm. Slated for completion in September 2028, Tide Construction is serving as developer and contractor – its second project with Vita Group.
“With its prime location in Canary Wharf and an unmet demand for student accommodation, this project represents an exciting opportunity to introduce Vita’s exceptional living experience to a new market.
“Our focus on creating vibrant communities, supported by high-specification amenities and services, ensures that students thrive both academically and personally.”
Ioannis Verdelis, Chief Investment Officer, Vita Group
Amenities at the scheme will include a gym, cinema, games room, co-working spaces, and food and beverage options, ensuring a best-in-class living experience for residents.
Vita Group’s tailored services will also enhance the offering, providing a social events calendar, contents insurance, concierge services, career tools, and fortnightly room cleaning.
“Our continued partnership with Vita Group represents an important step in tackling the pressing need for purpose-built student housing, while also supporting the transformation of Canary Wharf into a vibrant residential area.
“As the UK’s largest student market, with 42% of its population coming from overseas, London faces a significant shortage of high-quality accommodation.
“The debt deal ticks every single box that we look for as a lender.”
John Cole, Global Head of Real Estate Credit, Eldridge Capital Management
