The Unite Group, the UK's leading developer and manager of commercial student accommodation, and construction partner, Mansell, have celebrated the topping out of 'Moonraker Point', in Southwark's Southbank.

The topping out celebrates the completion of the structural construction phase of the Group's 671 bedroom London development, marking a key milestone in UNITE's development target of delivering 4,000 bedrooms in London by 2014, and signifies the latest stage of UNITE's £165 million investment in the borough of Southwark.

Moonraker Point comprises 2,230 square metres of retail-led commercial space and will accommodate 671 students for the September 2012 academic year. On completion the property will consist of 127 studios and 84 shared flats which will provide 544 rooms, all with ensuite showers.

Moonraker Point, UNITE’s fifth development in the borough, will contribute around £70 million to the regeneration of Southwark's Southbank and a total of £1.9 million to the local community in Section 106 payments, as well as providing local residents with additional amenities through the commercial space.

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Situated in close proximity to several key London universities including the King’s College London, London School of Economics and the University of the Arts, the site also benefits from excellent transport links, including Southwark, Borough, London Bridge and London Waterloo underground stations.

Moonraker Point is being constructed by Mansell and consists of a reinforced concrete frame with brick and aluminium cladding. In the interests of speed, quality and safety, all the bathroom pods and the cladding have been manufactured off-site. Sustainable features include green and brown roofs and a combined heat and power (CHP) unit. The commercial space will attain a BREEAM "Excellent" rating.

Richard Simpson, Managing Director of Property for UNITE, said: "The structural completion of Moonraker Point represents a significant milestone for UNITE and brings us a step closer to achieving our goal of creating 4,000 new bedrooms in London between 2012 and 2014. Furthermore, it supports our ambition to grow our market share in London where the demand for student accommodation still far exceeds supply. Moonraker Point is a high quality development in the heart of vibrant Bankside – exactly the type of central location where students want to live."

The development is made up of two new multi-storey buildings separated by a pedestrian walkway that will link Great Suffolk Street and Pocock Street. The design of the building and its name, 'Moonraker Point', allude to the 18th Century use of the site which is where Moonraker sails were manufactured.

(CD)