Singapore-based private equity investment firm Q Investment Partners (QIP) and integrated property group Soilbuild have announced a £200 million platform to invest in purpose-built student accommodation in the UK.

QIP and Soilbuild have capitalised and underwritten the build-to-core platform, which could potentially be scaled up to GBP400 million. The joint venture partners seek to syndicate up to 45% of total equity participation in the fund with strategic limited partners. The fund will initially be seeded with two PBSA development opportunities in York and Newcastle, with a total of about 650 beds. Prestige Student Living will operate both assets.

“As integrated real estate businesses, QIP and Soilbuild share many of the same values, and this partnership reaffirms QIP’s significant track record and expertise in the global residential living sector,” says Peter Young, QIP’s CEO and co-founder.

According to QIP, the partnership marks the latest step in its strategy of working with strategic institutional partners to scale its specialist Global Residential Living Platform across the UK, US and Japan. Meanwhile, Lim Han Feng, director at Soilbuild, says the partnership continues Soilbuild’s focus on developing purpose-built schemes across the residential and business space. “PBSA continues to be a non-cyclical asset class that demonstrates its resilience through its strong fundamentals,” he adds.