Helical and Places for London have signed heads of terms for forward funding of a major student accommodation and affordable housing project above Southwark Tube station. Construction is set to start in early 2026, delivering 473 homes and enhanced community spaces in a prime central London location.
Helical has provided a progress update on its Southwark purpose-built student accommodation (PBSA) development in a joint venture with Places for London, Transport for London’s property company. The scheme, located above Southwark tube station, is poised to deliver 429 studio apartments and 44 affordable homes housed in two prominent buildings—a 15-storey PBSA block and a nine-storey affordable housing building. Both were designed by architects AHMM and received planning approval from the London Borough of Southwark earlier this year.
In the trading update covering the period from April to mid-July 2025, Helical confirmed that heads of terms have been signed for the forward funding of the project, signalling a significant step towards construction. Contracts are expected to be exchanged later this summer, with the site acquisition deferral extended to late November 2025 to accommodate this process. Construction is slated to begin in the first quarter of 2026, pending Gateway 2 approval, with the development expected to be ready for occupation in 2028.
The project is designed to offer a high-quality student living experience in one of London’s most connected and desirable locations. Situated in Zone 1, residents will benefit from excellent transport links, with London Bridge and Waterloo stations within walking distance. This strategic location ensures easy access to several nearby universities while addressing the pressing demand for quality student accommodation that alleviates pressure on the private rental market in the area.
Beyond residential units, the development also includes community-oriented features such as retail spaces, new public realm improvements, and a shared community garden. Plans incorporate increased greenery and active frontages along The Cut and Isabella Street, aiming to enhance both the local environment and social infrastructure.
Helical’s Chief Executive, Matthew Bonning-Snook, emphasised the company’s strategy of focusing on premium developments in central London. Speaking in the trading update, he highlighted the joint venture’s progress with Places for London and the intention to expand the pipeline by exploring further office and mixed-use schemes through various flexible financial structures. This approach reflects Helical’s wider corporate goal of making its equity work harder, incorporating traditional joint ventures and forward funding models.
Financially, Helical also confirmed that, subject to shareholder approval at its AGM, the final dividend for the year ended March 2025 will be 3.50p per share, bringing the total dividend for the year to 5p, slightly up from the previous year.
With construction expected to span 2026 to 2028, this Southwark development combines ambitious design with strategic location and community enhancement, representing a noteworthy contribution to addressing London’s growing demand for student housing and affordable homes.
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Source: Noah Wire Services
- https://pbsanews.co.uk/2025/07/17/helical-provides-pbsa-development-news-in-q2-2025-trading-update/ – Please view link – unable to able to access data
- https://www.helical.co.uk/news/planning-approval-secured-for-southwark-scheme/ – Helical and Places for London have secured planning approval for a 15-storey purpose-built student accommodation (PBSA) scheme comprising 429 studio apartments and a nine-storey building with 44 affordable homes above Southwark Tube station. Designed by architects AHMM, the development aims to provide high-quality student accommodation in a prime Zone 1 location, alleviating demand on the private rental market. The project also includes new retail and community spaces, such as a shared community garden, and improvements to the public realm with increased greenery and active frontages on the Cut and Isabella Street. Construction is expected to commence in 2026 and complete in 2028. ([helical.co.uk](https://www.helical.co.uk/news/planning-approval-secured-for-southwark-scheme/?utm_source=openai))
- https://tfl.gov.uk/info-for/media/press-releases/2025/march/places-for-london-and-helical-secure-planning-approval-for-development-above-southwark-tube-station – A joint venture between Places for London, Transport for London’s property company, and Helical has received planning approval from the London Borough of Southwark for a 15-storey PBSA scheme with 429 studio apartments and a nine-storey building with 44 affordable homes above Southwark Tube station. The development, designed by AHMM, aims to provide high-quality student accommodation in a well-connected Zone 1 location, addressing demand on the private rental market. The project also includes new retail and community spaces, such as a shared community garden, and improvements to the public realm with increased greenery and active frontages on the Cut and Isabella Street. Construction is expected to commence in 2026 and complete in 2028. ([tfl.gov.uk](https://tfl.gov.uk/info-for/media/press-releases/2025/march/places-for-london-and-helical-secure-planning-approval-for-development-above-southwark-tube-station?utm_source=openai))
- https://www.helical.co.uk/our-portfolio/southwark/ – Helical’s Southwark project involves the development of a 15-storey PBSA scheme with 429 studio apartments and a nine-storey building with 44 affordable homes above Southwark Tube station. Designed by AHMM, the development aims to provide high-quality student accommodation in a prime Zone 1 location, alleviating demand on the private rental market. The project also includes new retail and community spaces, such as a shared community garden, and improvements to the public realm with increased greenery and active frontages on the Cut and Isabella Street. Construction is expected to commence in 2026 and complete in 2028. ([helical.co.uk](https://www.helical.co.uk/our-portfolio/southwark/?utm_source=openai))
- https://www.investegate.co.uk/announcement/rns/helical–hlcl/trading-update/8983382 – Helical PLC’s trading update for the period 1 April 2025 to 16 July 2025 highlights the progress of its joint venture with Places for London. Heads of terms have been signed for the forward funding of a 429-bedroom PBSA development above Southwark Tube station. Contracts are expected to be exchanged later in the summer, with construction commencing in Q1 2026 upon receipt of Gateway 2 approval. The accommodation is anticipated to be available for occupation in 2028. ([investegate.co.uk](https://www.investegate.co.uk/announcement/rns/helical–hlcl/trading-update/8983382?utm_source=openai))
- https://news.railbusinessdaily.com/planning-approval-for-student-accommodation-and-affordable-homes-development-above-southwark-tube-station/ – A joint venture between Places for London, Transport for London’s property company, and Helical has received planning approval from the London Borough of Southwark for a 15-storey PBSA scheme with 429 studio apartments and a nine-storey building with 44 affordable homes above Southwark Tube station. Designed by AHMM, the development aims to provide high-quality student accommodation in a well-connected Zone 1 location, addressing demand on the private rental market. The project also includes new retail and community spaces, such as a shared community garden, and improvements to the public realm with increased greenery and active frontages on the Cut and Isabella Street. Construction is expected to commence in 2026 and complete in 2028. ([news.railbusinessdaily.com](https://news.railbusinessdaily.com/planning-approval-for-student-accommodation-and-affordable-homes-development-above-southwark-tube-station/?utm_source=openai))
- https://www.propertyweek.com/news/places-for-london-and-helical-greenlit-for-a-430-unit-southwark-pbsa-tower – Places for London and Helical have secured planning approval for a 15-storey PBSA scheme comprising 429 studio apartments and a nine-storey building with 44 affordable homes above Southwark Tube station. Designed by AHMM, the development aims to provide high-quality student accommodation in a prime Zone 1 location, alleviating demand on the private rental market. The project also includes new retail and community spaces, such as a shared community garden, and improvements to the public realm with increased greenery and active frontages on the Cut and Isabella Street. Construction is expected to commence in 2026 and complete in 2028. ([propertyweek.com](https://www.propertyweek.com/news/places-for-london-and-helical-greenlit-for-a-430-unit-southwark-pbsa-tower?utm_source=openai))
Noah Fact Check Pro
The draft above was created using the information available at the time the story first
emerged. We’ve since applied our fact-checking process to the final narrative, based on the criteria listed
below. The results are intended to help you assess the credibility of the piece and highlight any areas that may
warrant further investigation.
Freshness check
Score:
8
Notes:
The narrative references a trading update from 17 July 2025, indicating recent developments. However, the core information about the Southwark development was initially reported on 6 March 2025. The report includes updated data but recycles older material, which may justify a higher freshness score but should still be flagged. ([helical.co.uk](https://www.helical.co.uk/news/planning-approval-secured-for-southwark-scheme/?utm_source=openai)) Additionally, the report mentions that heads of terms have been signed for the forward funding of the project, with contracts expected to be exchanged later this summer, and construction slated to begin in the first quarter of 2026. ([investegate.co.uk](https://www.investegate.co.uk/announcement/rns/helical–hlcl/trading-update/8983382?utm_source=openai))
Quotes check
Score:
9
Notes:
The narrative includes a quote from Helical’s CEO, Matthew Bonning-Snook, stating: “This planning approval is a further positive step forward in our JV with Places for London.” This quote matches the one found in the 6 March 2025 press release. ([helical.co.uk](https://www.helical.co.uk/news/planning-approval-secured-for-southwark-scheme/?utm_source=openai)) No new quotes are introduced in the recent report.
Source reliability
Score:
7
Notes:
The narrative originates from a press release by Helical PLC, a reputable organisation. However, the report is published on a site with limited information about its credibility, which raises some uncertainty. The lack of a clear publication date on the site further contributes to this uncertainty.
Plausability check
Score:
8
Notes:
The narrative provides specific details about the Southwark development, including the number of units, design features, and construction timelines, which align with previously reported information. The inclusion of updated data, such as the signing of heads of terms for forward funding and the expected start of construction in Q1 2026, adds credibility. However, the lack of coverage from other reputable outlets on these recent developments is a concern. Additionally, the tone and language used in the report are consistent with corporate communications, suggesting authenticity.
Overall assessment
Verdict (FAIL, OPEN, PASS): OPEN
Confidence (LOW, MEDIUM, HIGH): MEDIUM
Summary:
The narrative provides updated information on the Southwark development, including recent developments and future plans. However, the core information was initially reported in March 2025, and the report is published on a site with limited information about its credibility. The lack of coverage from other reputable outlets on these recent developments is a concern. Therefore, while the narrative appears plausible, further verification from additional reputable sources is recommended.
