The policy is valid for a period of 12 years from practical completion, and covers defects in structure, including design, workmanship and materials. 

It will cover the full reconstruction value of the scheme.

The 7000 sq m student accommodation scheme is scheduled to be completed in March 2024 and will provide 267 student bed spaces. 

The scheme also includes a 373 sq m pocket park at the north of the site, as well as commercial space on the ground floor.

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Laurence Quail, director at Tribe, said: “This development will provide much-needed student accommodation for some of the capital’s largest universities. 

“The Old Kent Road is undergoing significant redevelopment and this scheme is part of a wider programme that will upgrade the area."

Johnny Leadsom, director at J3 (pictured above), added: "We believe the UK is and will continue to be one of the top educational destinations for international students. 

“The PBSA market offers very compelling investment opportunities with long-term stable returns, and we look forward to supporting property developers, investment funds, and other associated professionals in the sector."