A property company co-founded by Chelsea FC owner Jonathan Goldstein has launched a 2,000-bed purpose-built student accommodation (PBSA) strategy for London.
Cain has invested in a fully consented 18-storey tower comprising 353 beds on the Greenwich Peninsula (picture: Cain)
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Chelsea FC owner’s property firm launches 2,000-bed London PBSA strategy #UKhousingCain has launched its London PBSA strategy with an investment in a fully consented 18-storey tower comprising 353 beds on the Greenwich Peninsula.
The strategy is targeting the development of 2,000 beds across London.
It is the latest expansion of London-headquartered Cain’s pan-European living platform, which aims to own a total of 10,000 student beds over the next five years.
The Greenwich scheme forms part of a large mixed-use regeneration, which will include more than 17,000 homes alongside retail, office, hotel, leisure and cultural space.
The scheme is being developed in partnership with RG Real Estate, the development arm of RG Group, which currently manages a development pipeline of around £500m.
RG Real Estate, established in 2023, specialises in the development of residential and living sector properties across the UK.
Cain was founded in 2014 by Mr Goldstein and American businessman Todd Boehly. Its PBSA platform represents around €1.2bn (£1bn) in gross development value spanning around 4,000 beds across key university markets including Bristol, Leeds, Manchester and Liverpool.
Cain previously deployed more than £1bn of construction financing into the PBSA sector, including across the UK, before its credit business merged with Eldridge Capital Management in 2024.
Arvi Luoma, chief investment officer at Cain, said: “London is the world’s largest student city and continues to attract both domestic and international students seeking world-class education and long-term career opportunities.
“We have an established PBSA platform with strong development partnerships across the UK having already delivered assets across a number of major university cities, and continue to see a significant opportunity to scale the platform through high-quality product in some of Europe’s most dynamic university markets.”
Oliver Cummings, managing director and head of PBSA at Cain, said: “London continues to face a severe shortage of high-quality student accommodation and we believe well-located, highly amenitised schemes such as this will continue to attract long-term demand.”
Mr Cummings added: “We are already collaborating with RG Group on the construction of two projects in Leeds and Bristol and look forward to building on the relationship through this exciting new development.”
Mr Goldstein was part of a consortium of buyers that acquired Chelsea FC from Russian billionaire Roman Abramovich in 2022.
This month, giant US student developer Landmark Properties received the green light to build 504 student beds as part of a redevelopment of a shopping centre in Durham, North East England.
In May, developers Dominus and Cheyne Capital secured a £250m loan to fund the conversion of a former office in central London into an 875-bed student accommodation scheme.
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