Somehwere back in the distant past, ie some time in the last year, I came across a piece, probably on radio, BBC R4, that suggested, iirc, that the main demand for such student housing was mainly from overseas students, and was cooling.
If you look at the Companies House records you'll see that that the owner of Lulu's London Ltd owns several other businesses with SE London names - mainly in hairdressing/beauty, and iirc one licensed restaurant.
PS The Forest Hill Road licence covers seven days/week, daytime and evening, and includes off-sales of alcohol as well. https://app.southwark.gov.uk/premises/granted/887411
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