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Paris Garden student residence sold to Bahrain firm in 45 million deal

A new development of student accommodation located between Hatfields and Paris Garden has been sold to a joint venture including a Bahrain-based investment company.

The building, due for completion in September 2013, has been designed by local architects Allies and Morrison and includes new premises for the Central School of Ballet.

The developer, McLaren Property, has now formed a joint venture with Bahrain-based Islamic real estate investment company Tadhamon Capital and London-based Apache Capital Partners.

The 253-bedroom residence will be managed by the Victoria Hall company which also runs the Dashwood Studios student accommodation in Walworth Road.

The scheme, first devised five years ago, has had a complicated history including a planning inquiry which saw plans for a taller version of the proposals rejected by a planning inspector.

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