Latest News | 9th April 2025

HGP passes half a billion of equity invested following £4.9 million for Cardiff PBSA development commitment

HGP, the Lloyds-backed equity investor in the UK Living sector, has committed £4.9 million of equity, alongside developer Urban Centric, to fund the delivery of Trafalgar House, a 310-bed purpose-built student accommodation (PBSA) scheme in Cardiff City Centre. It brings the total amount of equity that HGP has invested since 2015 to over £500 million, supporting a total of 88 partners and funding over 13,400 homes across the UK.

The Trafalgar House transaction is HGP’s second with Urban Centric. It will see a former office building refurbished and extended to deliver an eight-storey, EPC A rated 310-bed scheme, featuring a range of studio sizes across different price points. Amenities will include yoga rooms, lounges, cinemas and two roof terraces accessed from the eighth floor, alongside 132 cycle spaces. The scheme is situated in Cardiff city centre, less than 15 minutes’ walk from the main Cardiff University and University of South Wales campuses, as well as Cardiff Central Station.

Cardiff is a characterised by a significant undersupply of PBSA beds, with Trafalgar House representing the first new PBSA development for several years, which should help lower the increasing student to bed ratio.

Gowtham Jeeven, Investment Manager at HGP, commented: “This is our debut PBSA deal in Wales, and is fully aligned with our strategy of supporting best-in-class development partners to deliver sustainable, residential schemes in supply constrained markets.”

Mike Murphy, Investment Director at HGP, comment: “This transaction takes the total amount of equity HGP has committed since 2015 to over £500 million, which is a phenomenal achievement by the team. It demonstrates the uniqueness of our proposition, with partners attracted by our track record, funding certainty and deep expertise, including access to a 20-strong Senior Advisor panel, as well as our commitment to delivering meaningful social impact across the UK.”

Tom Larkin at Urban Centric, added: “Urban Centric, in partnership with HGP, is proud to deliver high-quality Purpose-Built Student Accommodation in Cardiff. This development reflects our shared commitment to creating modern, well-connected living spaces that enhance the student experience while contributing to the city’s vibrant community.”

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