KKR and Inhabeo, KKR Real Estate’s living sector platform in Europe, has agreed to forward fund Progress House, which involves the demolition of an existing office building to make way for a six-storeys contemporary purpose-built student accommodation (PBSA) in Coventry.
The scheme will include 544 en-suite bedrooms and a 4,000 sq ft ground floor commercial unit to serve both students and the local community.
“We’re pleased to grow our student housing portfolio with Inhabeo by investing in this strategically located development scheme which is transforming a vacant office space into a vibrant student community to address the University of Warwick’s need for more residential accommodation.
“This investment underscores the strength of our conviction in providing high-quality living spaces in undersupplied markets that enjoy resilient demand from top universities.”
Seb d’Avanzo, Managing Director and Head of Real Estate Acquisitions – Europe, KKR
The scheme is under development by PBSA specialist Gilltown and with general contractor Winvic appointed to build the scheme. It is scheduled to complete in the summer of 2027, before the start of the academic year.
“We’re delighted to add to our European living sector investments alongside KKR through this off-market transaction.
“Gilltown and Winvic have proven track records and we look forward to delivering this development with them.”
Ross Netherway, Chief Executive, Inhabeo
Progress House will include amenities comprising a gym, fitness studio, cinema, dinner party room, games lounge, study rooms and garden lounge. An external sports area and petanque court will also be delivered.
“Collaborating with KKR and Inhabeo on this latest exciting project is an important step for Gilltown and we’re very pleased to be working alongside Winvic Construction to deliver it.”
James Gillespie, Development Director, Gilltown
The development will add to KKR’s expanding portfolio of PBSA assets in the UK and follows the completion of an 819-bed PBSA scheme in Bristol last year.
